Nucor will build its new rebar mini-mill in Lexington, North Carolina, with an annual capacity of 430,000 tons, as the company anticipates increased demand in the region due to U.S. federal infrastructure spending.
“The corridor between Washington DC and Atlanta is one of the fastest growing regions in our country, and new federal spending on infrastructure will further increase demand for valves in the region,” said Leon Topalian, CEO of Nucor.
The company first announced plans to build a third US rebar plant in December 2021 following the unveiling of a $1.2 trillion infrastructure bill. federally funded projects and mark the largest U.S. infrastructure investment since the Federal Highway Act of 1956.
The American Institute of Steel has calculated that every $100 billion in new infrastructure investment could increase demand for domestic steel by as much as 5 million cents.
The rebar that Nucor will produce at the new plant is mainly used to reinforce concrete in the construction of roads, buildings, bridges and other structures.
Nucor currently operates mini valve plants in Missouri and Florida, with a total of 15 valve plants in the US.
According to Topalian, the new facility, which is expected to cost about $350 million, will produce steel with almost 100 percent recycled content. According to the company, Nucor steel bars are 97% recycled.
