MASON COUNTY, WV (WOWK) – A year after the project was first announced, progress is continuing on a new steel mill in Mason County, but the company says construction will cost more than expected, but is also projected to provide nearly double the initially estimated construction jobs.
According to officials with Nucor Steel, the projected cost of building the new steel mill has risen from the initial estimate of $2.7 billion to $3.1 billion. Company officials say some of the factors contributing to the new estimated cost include general inflation, expanded requirements for port and rail infrastructure and the purchase of additional property and equipment.
Officials with the company say they are estimating approximately 800 full-time positions will be available at the plant once construction is complete. Initially, the company stated the project would create approximately 1,000 construction jobs, but that estimate has now increased to 2,000 construction jobs for the project, according to the company.
The new plant is still projected to produce approximately 3 million tons of sheet steel per year, which will be used for the automotive, appliance, HVAC, heavy equipment, agricultural, transportation and construction markets.
“We remain incredibly excited about our Nucor Steel West Virginia mill and its advanced capabilities that will expand our ability to provide our customers with the cleanest and highest-quality steel products, particularly for demanding automotive and construction applications,” Leon Topalian, Chair, President and Chief Executive Officer of Nucor Corporation said in a press release. “The Midwest and Northeast consume half the sheet steel in the United States. This transformative project will provide customers in these high-demand regions with more sustainable sheet steel, create long-term value for our shareholders and fuel additional growth for Nucor.”
Company officials say they have received all the required state permits needed to build the plant, and are working to have the necessary federal permits secured this spring. The company says construction is expected to take two to three years from the time they have all of the permits.