Nucor seeks permit for $2 billion mill
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Nucor Corp., the biggest steelmaker in North America, could build a $2 billion plant in St. James Parish on the site that became a finalist for a German-owned steel mill last year, the company said today in announcing it is filing for state permits.
Based in Charlotte, N.C., Nucor would employ 500 with an average salary of $75,000 and create 2,000 construction jobs.
But the project isn’t a certainty, the company said. The Louisiana site is the only U.S. site still under consideration for the plant, which would produce 3 million tons of pig iron a year and include a cogeneration plant producing 500 megawatts of electricity.
Nucor said it’s still considering sites outside the U.S. and could decide not to build the project at all.
The St. James Parish site is south of the Sunshine Bridge and Donaldsonville and roughly halfway between Baton Rouge and New Orleans.
Though a huge capital investment, the project is smaller than the nearly $4 billion project on 3,800 acres that ThyssenKrupp sought when it considered building at the same site in 2007 before opting for a rival location that will open in 2010 near Mobile, Ala.
American Metal Market recently ranked Nucor as the No. 1 steel manufacturer in North America, with annual production of more than 22 million tons. U.S. Steel at 16.8 million tons ranked second.
Rather than operate a handful of large steelmaking facilities, Nucor’s approach has been to build smaller mini-mills focused on regional markets. Along with obvious direct job gains, the Nucor project bodes well for Louisiana’s ability to woo a future automotive plant or other big manufacturers who are large consumers of steel.
Economic Development Secretary Stephen Moret has said the state is in competition for a half-dozen large manufacturers representing 1,000 or more jobs each.
Without naming the company, Moret said recently that a final decision on a future project at the St. James Parish property, known as the Wilton site, wasn’t imminent. Permit applications often are made months in advance of large project decisions, as was the case with the ThyssenKrupp steel mill.
Nucor said it could build a second phase, if it selects the Louisiana site, investing an additional $1 billion and increasing the job count to 750.
Business sales in St. James Parish would increase $1.2 billion a year from the first phase along, the company estimated.
In a statement issued by the company, Gov. Bobby Jindal said, “This would provide a tremendous boost to Louisiana’s economic development and further job creation. We are proud that Nucor, a company with a great reputation for creating jobs in the U.S., is considering Louisiana for this important project.”
Based in Charlotte, N.C., Nucor would employ 500 with an average salary of $75,000 and create 2,000 construction jobs.
But the project isn’t a certainty, the company said. The Louisiana site is the only U.S. site still under consideration for the plant, which would produce 3 million tons of pig iron a year and include a cogeneration plant producing 500 megawatts of electricity.
Nucor said it’s still considering sites outside the U.S. and could decide not to build the project at all.
The St. James Parish site is south of the Sunshine Bridge and Donaldsonville and roughly halfway between Baton Rouge and New Orleans.
Though a huge capital investment, the project is smaller than the nearly $4 billion project on 3,800 acres that ThyssenKrupp sought when it considered building at the same site in 2007 before opting for a rival location that will open in 2010 near Mobile, Ala.
American Metal Market recently ranked Nucor as the No. 1 steel manufacturer in North America, with annual production of more than 22 million tons. U.S. Steel at 16.8 million tons ranked second.
Rather than operate a handful of large steelmaking facilities, Nucor’s approach has been to build smaller mini-mills focused on regional markets. Along with obvious direct job gains, the Nucor project bodes well for Louisiana’s ability to woo a future automotive plant or other big manufacturers who are large consumers of steel.
Economic Development Secretary Stephen Moret has said the state is in competition for a half-dozen large manufacturers representing 1,000 or more jobs each.
Without naming the company, Moret said recently that a final decision on a future project at the St. James Parish property, known as the Wilton site, wasn’t imminent. Permit applications often are made months in advance of large project decisions, as was the case with the ThyssenKrupp steel mill.
Nucor said it could build a second phase, if it selects the Louisiana site, investing an additional $1 billion and increasing the job count to 750.
Business sales in St. James Parish would increase $1.2 billion a year from the first phase along, the company estimated.
In a statement issued by the company, Gov. Bobby Jindal said, “This would provide a tremendous boost to Louisiana’s economic development and further job creation. We are proud that Nucor, a company with a great reputation for creating jobs in the U.S., is considering Louisiana for this important project.”
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