Search on
News Title
News Details
Reports/Directory
Glossary
 
Title_head
CAPEX cuts - US Steel puts hold on Clairton modernization project
135 times viewed.
Friday, 03 Apr 2009
EmailButton
Pdf_button

Post Gazette reported that US Steel, which is suspending indefinitely the USD 1 billion modernization of its Clairton coke plant that was expected to create more than 600 construction jobs, said that it will put on hold the project due to economic slowdown. It added that it will lay off about 7,000 union workers in recent months.

The decision to embark on the largest capital project in US Steel's 108 year industry came at a time when steelmakers were jockeying for supremacy in the revitalized industry, using acquisitions, expansion and modernization. US Steel said that "We cannot speculate as to when conditions will improve enough to allow work to resume."

When announced in November 2007, the project was hailed as the region's largest construction project since Pittsburgh International Airport was completed in 1992. US Steel said that it would build two new coke batteries, a plant that would generate electricity from gas produced by the coke making process and add state of the art environmental controls to existing operations.

US Steel broke ground on the project October 22nd 2008, with Governor Mr Ed Rendell remarking that "This is real good news for the American economy and we haven't had a lot of good news recently."

At Clairton, US Steel has idled seven of the 12 batteries that produce coke, a baked coal used to fuel blast furnaces. Union officials estimate those cost-cutting initiatives have cost about 200 Clairton workers their jobs.

(Sourced from www.post-gazette.com)

Expanded Metal by Anping County Huijin Wire Mesh Co., Ltd.
Galvanized Steel by Beijing Xinruilufeng Industry and Trade Co., Ltd.
Wire Mesh Manufacturers & Suppliers
Aluminium Sheets Manufacturers & Suppliers

jspl
Stemcor
More International News
 
Disclaimer|Copyright Policy|Privacy Policy|About us|Feedback|Contact us|FAQ|Site Map|Know about SteelGuru