Nucor Corp.'s board approved a US$650 million investment to expand the production capacity at Nucor Steel Gallatin LLC, the company's flat-rolled sheet steel mill in Kentucky, according to a Sept. 7 release.
With the investment, the mill's current capacity of 1.6 million tons per year will be increased to around 3 million t/y. The project is expected to create 70 full-time jobs.
The move complements the US$176 million investment for the construction of a hot band continuous pickle galvanizing line at Nucor Steel Gallatin. This line, which is anticipated to come online in the first half of 2019, will produce about 500,000 t/y of galvanized hot band steel.
Nucor is evaluating additional expansion projects as part of its strategy to further grow its sheet business.
"Together with the new galvanizing line, this expansion increases our presence in the important Midwest market, specifically in the automotive, agriculture, heavy equipment, and energy pipe and tube sectors," Chairman, CEO and President John Ferriola said.