NOVEMBER 2010
                                        

Nucor selects location for iron making facility

Nucor Corporation has selected St. James Parish, Louisiana, for the construction of a planned $750 million iron making facility, subject to receipt of all requisite environmental permits. The new facility will be owned and operated by Nucor Steel Louisiana, LLC, a wholly-owned indirect subsidiary of Nucor.

The 2,500,000 tons-per-year iron making facility will use direct reduction technology to convert natural gas and iron ore pellets into high quality direct reduced iron (DRI) used by Nucor’s steel mills, along with recycled scrap, in producing numerous high quality steel products such as sheet, plate and special bar quality steel. The DRI facility is the first phase of a multi-phase plan that may include an additional DRI facility, coke plant, blast furnace, pellet plant and steel mill.

Nucor anticipates issuing prior to year-end approximately $600 million in Gulf Zone Opportunity Bonds to partially fund the capital costs of the project.