The company's board of directors approved the allocation of resources for construction
The board of directors of North American steelmaker Nucor approved US$860 million for the construction of a microfactory to produce rebar in the Pacific Northwest. The company said in a statement.
The company continues to evaluate potential locations. The plant will be Nucor's largest rebar production unit and will have a capacity of 650 thousand tons per year. It is expected to be completed in two years, subject to regulatory approvals.
“The rebar we produce in our Nucor microfactories is almost 100% recycled scrap, making it some of the cleanest in the world,” said Leon Topalian Chairman, President and CEO of Nucor.
The new plant will produce a full range of rebar sizes. With increased investment in US infrastructure, the domestic market for these products is expected to continue to grow.
Nucor currently operates 15 rolling facilities strategically located throughout the United States, with a total production capacity of approximately 9.6 million tons per year by the end of 2023. These plants produce a wide range of steel products, with four of them specializing in the production of steel. special quality long products (SBQ) and wire rod.
As Compraço previously reported, last fall Nucor reaffirmed its intention to achieve carbon neutrality by 2050 and set a new interim target for 2030. Currently, the company's 2050 targets and interim target for 2030 cover emissions from Scopes 1, 2 and 3 of hot rolled steel. production, as defined by the ambitious GSCC standard.
