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.