
U.S. Steel CEO: Nippon enables $3 billion investment
the partnership between U.S. Steel and its new owner, Japan-based Nippon Steel, is allowing U.S. Steel to advance a $3 billion investment at its Big River Steel Works complex in Osceola, the company’s president and CEO, David Burritt, said Tuesday (Nov. 18).
Burritt made the comments at the 97th annual meeting of the Arkansas State Chamber of Commerce and Associated Industries of Arkansas, and in remarks to reporters afterwards.
The $3 billion investment will allow the company to build a direct reduced iron plant that will use iron pellets to produce feedstock for its electric arc furnaces in Osceola.
In addition, the company will manufacture grain-oriented steel used for transformers, electric motors and critical energy and industrial projects.
Burritt said the company has the permits for the projects but has not yet broken ground. He said it has a “legally binding national security agreement” to complete it by the end of 2028.
Originally published on talkbusiness
































































































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