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Steel News February 18, 2021 09:30:24 PM

ArcelorMittal To Add New Electric Arc Furnace at AM/NS Calvert Steel Mill

Paul Ploumis
ScrapMonster Author
The announcement about the groundbreaking ceremony was made soon after the declaration of its quarterly earnings.
ArcelorMittal To Add New Electric Arc Furnace at AM/NS Calvert Steel Mill

SEATTLE (Scrap Monster): Luxembourg-headquartered integrated steelmaker ArcelorMittal announced ceremonial groundbreaking of massive expansion works at the AM/NS Calvert steel mill- a joint venture between ArcelorMittal and Nippon Steel-Sumitomo Metals, near Mobile. The expansion project, worth $775 million, will add an additional electric arc furnace to the mill facility.

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The announcement about the groundbreaking ceremony was made soon after the declaration of its quarterly earnings. The ceremony, held on 2nd February, was attended by a small gathering of internal leadership, said company press release. The construction is expected to take approximately two years and is expected to come online in H1 2023. It will create 200 direct and 100 indirect jobs.

Jorge Oliveria, CEO, AM/NS Calvert thanked all the supporters who were critical to approval of the project. The company would not have been able to gain approval for the investment without support from government and community stakeholders.

AM/NS Calvert was acquired by the joint venture between ArcelorMittal and Nippon Steel Corp. from Thyssenkrup in 2014. Since then, the facility has seen investment of more than $200 million towards development of the facility.