SEATTLE (Scrap Monster): Nucor Corporation announced update on the status of its new sheet mill in West Virginia. The mill is expected to have a capacity of 3 million tons per annum capacity and will provide full-time employment to approximately 800 people, once fully operational.
The company press release noted that the Board of Directors had recently approved to provide additional capital to fund the construction of the project. The sheet mill’s net cash outlay is now estimated at around $3.1 billion, significantly higher from $2.7 billion when the project was initially announced in September 2021.
The sheet mill project has received all required state permits. It expects to receive federal permits this spring. Upon receipt of all necessary permits, the new sheet mill may take two to three years for construction. Currently, active hiring is in progress in Nucor Steel West Virginia.
Leon Topalian, Chair, President and Chief Executive Officer of Nucor Corporation said that the company remains incredibly excited about the new sheet mill and its advanced capabilities to provide its customers with the cleanest and highest-quality steel products, especially for automotive and construction applications.
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