Alabama reported that ground has been broken for a massive expansion project that will add an electric arc furnace to the AM/NS Calvert steel mill north of Mobile in Alabama in USA. A small gathering of internal leadership had held a ground breaking on February 2 for the project, which it valued at USD 775 million, significant escalation from the USD 500 million figure previously offered by the company. The new facility will come online in H1 2023
A company spokesperson said that news of the ground breaking had been delayed until the company released its quarterly earnings report.
ArcelorMittal had announced its intention to build an Electric Arc Furnace steel making facility at AM/NS Calvert in August 2020. Once completed, the planned facility will be capable of producing 1.5 million ton of steel slabs for the Hot Strip Mill. These capabilities, geographic location in combination with the new EAF will position the facility well for meeting automotive and energy market demand well into the future.
AM/NS Calvert, one of the world’s most advanced steel finishing facilities, was originally built for USD 4 billion by ThyssenKrupp. The facility was acquired by ArcelorMittal and Nippon Steel Corp as 50:50 joint ventures in 2014. The partners have reported investing more than USD 200 million in development since then.