Construction on a $3 billion US Steel mill will soon commence in northeast Arkansas. United States Steel Corp. recently announced that it had selected Osceola to develop its new mill, and this announcement came in, a short while after, the company decided to scrap its $1.5 billion project to make improvements on the Mon Valley Works last spring.
The US Steel mill will be developed close to an existing Big River Steel plant, which is also owned by US Steel and it’s also in close proximity to another steel mill in the area owned by Nucor steel. Development plans for the new mill show that it will feature two electric arc furnaces designed with advanced steelmaking capability for producing up to 3 million tons per year, a cutting edge endless casting and rolling line, with advanced finishing capabilities.
According to David B. Burritt, the CEO and President of the company, Osceola was selected to develop the US Steel mill over several other competitive site options, due to the incomparable customer advantages offered in the region. He also said the company was prepared to reshape the future of steelmaking. Construction is scheduled to start early this year, with the completion date set for 2024.
Construction of Nucor Steel Brandenburg begins in Kentucky
US Steel mill project to bring at least 900 high paying jobs
Governor Asa Hutchinson spoke in favor of the new US Steel mill project and he was pleased with the investment, which could yield at least 900 high paying jobs. Hutchinson said he was certain that this project would make a real difference in the lives of many families in Northeast Arkansas. The Governor mentioned that Arkansas was committed to growing the steel industry of the state and had created an ideal business environment for steel production. The Arkansas lawmakers were also able to apply effective strategies to lure the US Steel mill to their state; they passed incentive packages last month aimed at attracting the company, and this also included an income tax credit for recycling equipment for the US steel facility.
