Nucor Corporation (NYSE: NUE) announced today that it will build its new state-of-the-art sheet mill in Mason County, West Virginia. The West Virginia location on the Ohio River provides Nucor with important transportation and logistics advantages, and a strengthened ability to serve customers in the Midwest and Northeast, the two largest sheet consuming regions in the U.S. When fully operational, the new mill will employ approximately 800 full-time teammates.
"Following a thorough process to determine the right location for our state-of-the-art, greenfield sheet mill, we are thrilled to make this significant investment in West Virginia and enhance our presence in this important region," said Leon Topalian, President and Chief Executive Officer of Nucor Corporation. "Our new sheet mill in Mason County will have unmatched capabilities that will enable the continued expansion of high-quality, low carbon steels, building on our industry-leading offerings. We are pleased to create hundreds of new, high-paying jobs, and position West Virginia as a leader in clean steel production. We are also excited to create substantial long-term value for investors through this high-return investment, which will help drive Nucor's continued growth."
As previously announced, the new sheet mill is expected to cost approximately $2.7 billion and have the capacity to produce three million tons of steel annually. The new mill will be equipped to produce 84-inch sheet products, and among other features, will include a 76-inch tandem cold mill and two galvanizing lines. Galvanizing capabilities will include an advanced high-end automotive line with full inspection capabilities as well as a construction-grade line. In addition to its advanced capabilities and optimal strategic location, the new greenfield mill will have a significantly lower carbon footprint than competitors who have historically supplied the region.
Construction is expected to take two years pending permit and regulatory approvals. Additional sites in Northern West Virginia are also under consideration for a transload and processing facility.
"We thank Governor Jim Justice, Secretary Mitch Carmichael and the West Virginia Department of Economic Development, Speaker of the House of Delegates Roger Hanshaw, Senate President Craig Blair, and local officials in Mason County for their partnership and support of this project," said John Farris, Vice President & General Manager of Nucor Steel West Virginia. "We look forward to breaking ground in Mason County and partnering with colleges and universities on workforce development programs, supporting veterans' organizations and local food pantries, and working with opioid recovery programs that will provide meaningful pathways to jobs."
