Nucor Invests $250 Million to Build Missouri Steel Rebar Mill

SEATTLE (Scrap Monster): Charlotte, North Carolina headquartered Nucor Corp. has announced new investment of up to $250 million to build a new rebar micro mill in Sedalia, Missouri. The company press release stated that the project has already received approval from the Missouri Development Finance Board. The construction works at the mill is expected to commence soon. The mill is expected to start operations in 2019, subject to final permits and other regulatory approvals. The project is expected to generate 450 temporary jobs during the construction phase and 255 well-paid full-time jobs when fully operational.

John Ferriola, Chairman, CEO & President of Nucor noted that the rebar micro mill project is in line with the company’s long-term strategy for profitable growth. The strategic location of the mill close to Kansas City region will offer cost-effectiveness when matched with other producers who currently supply the market from outside the region. The investment will help Nucor to reinforce its position as a low-cost producer, Ferriola noted. The mill will immensely benefit from the abundant scrap supply in the region, he added.

Further, Nucor thanked state and local departments and officials for extending big support for the project. Encouraged by the tremendous support, Nucor has decided to pursue an additional micro mill project. The mill will be located at either of the two regions under consideration in The US South east.

Recently, Nucor had decided to invest nearly $180 million at its existing Nucor Steel Kankakee Inc. bar steel mill located in Bourbonnais, Illinois towards construction of a full-range merchant bar quality (MBQ) mill.