[ad_1]
The construction of the plant is expected to be completed within two years.
SEATTLE (Scrap Monster): Highbar LLC announced that it has selected a greenfield site in Osceola, northeast Arkansas as the location for its new rebar steel mini mill. This is the first of the two mills the company plans to build. The location was finalized after a comprehensive multi-state site search.
RELATED NEWS:
SteelAsia Announces Construction of $1.6 Billion Integrated Steel Mill Complex
Nucor Invests $240 Million to Build New Florida Steel Rebar Mill
The plant will be built on a 600-acre property just outside Osceola town. The project comprises provision for an expanded Mississippi River port facility, enhanced railroad connectivity and solar power facilities. The proposed facility will break grounds in Q2 2023, subject to receipt of regulatory approvals and final permits. The construction of the plant is expected to be completed within two years.
Highbar plans to invest around $500 million to build the facility, which is expected to generate nearly 200 well-paid direct and indirect jobs, in addition to projected 600 jobs during the construction phase. SMS Group will provide the technology for the rebar mill, the company said.
The new rebar mill will provide huge support to the growing steel industry in northeast Arkansas. Apart from generating hundreds of high-wage jobs, the mill will help in further 0diversification of the region’s economy.
[ad_2]
Image and article originally from www.scrapmonster.com. Read the original article here.