US Steel to Build CRNGO Electrical Steel Line at Big River
Argus reported that according to an investor presentation, US Steel will build a 200,000 short ton per year non-grain oriented electrical steel line at its electric arc furnace minimill steelmaking operations in Arkansas in US. The USD 450 million investments at Osceola based Big River Steel will target the electric vehicle industry. Funding for the project will come from Big River Steel's cash flow, with USD 50 million expected to be spent in 2021, USD 325 million in 2022 and USD 75 million in 2023. The facility will be built next to Big River Steel's finishing line and is expected to be online by the third quarter of 2023.
The technology at Big River will allow US Steel to commercialize thinner and wider NGO electrical steels to meet the specific requirements of various consumers
The investment could lead to NGO steel products making up 7% of Big River Steel's product mix, with hot-rolled coil products making up half, cold-rolled coil 27% and hot-dipped galvanized coated products 16%.