17.03.2011 | Editor: Marcel Dröttboom
Charlotte (NC), USA – Nucor Corporation (NYSE: NUE) announced that it has broken ground on its direct reduced iron making facility that will be located in St. James Parish, Louisiana on March 7, 2011. Lester Hart has been named the General Manager of the St. James Parish facility.
Initially, Nucor will build one DRI plant, but has been permitted for the construction and operation of two plants with a combined annual DRI production of 5 500 000 tonnes.
The company also announced that Lester Hart has been named the General Manager of the St. James Parish facility.
Nucor received its air permit from the Louisiana Department of Environmental Quality in January after meeting all of the requisite standards ensuring its facility will comply with state and federal environmental controls. Issuance of the air permit allowed the company to begin the process of ordering equipment, and the company will now commence construction.
Nucor’s Chairman and Chief Executive Officer, Dan DiMicco, spoke at the event, alongside Governor Bobby Jindal and Economic Development Secretary Stephen Moret. “We are very excited to be here in St. James Parish to break ground on our USD 750 million DRI facility. This facility is an important investment for our company and the state of Louisiana,” said DiMicco. “Our nation’s economy has been long-suffering, and strong, solid manufacturing growth is the path back to solid economic growth. At a time when job creation is vital to our nation’s economic success, we need more capital investments like this one that are the result of the public and private sectors working together. We would like to thank Governor Bobby Jindal, Economic Development Secretary Stephen Moret, local officials and members of the St. James Parish community for their support of this project.”
Direct reduction technology converts natural gas and iron ore pellets into high quality direct reduced iron used by Nucor’s steel mills, along with recycled scrap, to produce 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 a coke plant, blast furnace, pellet plant and steel mill.
The project will create a substantial number of quality jobs. The project’s first phase will create 150 permanent Nucor jobs that earn an average annual salary of USD 75000, plus benefits; approximately twice the median household income for that part of Louisiana. During peak construction, 500 jobs will be directly created. If the additional phases of the project are constructed, over time Nucor could have a total investment of over USD 3 billion and increase permanent employment to more than 1000. To date the company has invested over USD 50 million to acquire approximately 4000 acres of property on the Mississippi River for the facility.
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