Nucor to invest $1.35 billion to Build a New Plate Mill in Kentucky

Specifications:

Name:

Nucor to invest $1.35 billion to Build a New Plate Mill in Kentucky

Location:

Kentucky

Company:

Nucor

Estimated Cost:

$1.35 billion

Source:

nucor.com

Introduction:

Nucor Corporation planned to build its new state of the art steel plate mill in Brandenburg, Kentucky, located along the Ohio River southwest of Louisville. The company will invest approximately $1.35 billion to build the mill

Features:

This mill is capable of producing 1.2 million tons per year of steel plate products. The plate mill will employ more than 400 full-time teammates at an average annual salary of $72,000, and is expected to be fully operational in 2022, pending permit and regulatory approvals.

The new plate mill will significantly strengthen Nucor's plate product portfolio, giving the company the ability to produce 97 percent of the products demanded in the domestic plate market, including the specialty higher-margin products. The mill will produce cut-to-length, coiled, heat-treated, and discrete plate ranging from 60 to 160 inches wide, and in gauges from 3/16 of an inch to 14 inches. The selected location on the Ohio River will give Nucor logistical advantages in sourcing raw materials and serving customers throughout the Midwest. Nucor currently operates plate mills in North Carolina, Alabama and Texas.