Nucor Expands Gallatin County Steel Mill Capacity with $650 Million Expansion
Phase II Project to Create 70 Jobs and Enable Production of Wider Steel Coils
CHARLOTTE, NC - March 25, 2021 - PRNewswire
Today, Nucor Corporation (NYSE:NUE) announced plans to build a new tube mill on the site of its Nucor Steel Gallatin sheet mill in Gallatin County, Kentucky. The project is expected to cost approximately $650 million and create 70 new jobs.
"This expansion is a testament to Nucor's commitment to the state of Kentucky and our belief in the future of the American steel industry," said John Ferriola, Nucor's Chairman, CEO and President. "We are excited to bring this new technology to Gallatin County and create new jobs for the community."
The new tube mill will be equipped with the latest technology, allowing Nucor to produce wider steel coils than are currently available on the market. These coils will be used in a variety of applications, including automotive, construction and energy.
"This announcement is a significant win for Kentucky," said Governor Andy Beshear. "Nucor is a world-class company, and this expansion will make Kentucky an even more attractive location for steel production."
Construction on the new tube mill is expected to begin in 2022 and be completed in 2024.
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