North Carolina-based Nucor Corp. said Thursday that construction work on its 2.5 million-ton reduced iron plant in Louisiana remains on schedule.
The majority of the equipment will begin arriving in 2012, and the construction work and the beginning of the plant start-up are scheduled to begin in mid-2013, according to Nucor. Nucor plans to build a $3.4 billion steel mill south of the Sunshine Bridge (La. 70) in St. James Parish, with the work to be done in phases over a number of years.
The company has said the facility could create up to 1,250 jobs.
The reduced iron plant announcement was included in Nucor’s third quarter earnings. The company reported earnings of $181.5 million, or 57 cents per share, compared to $23.5 million, or 7 cents per share a year earlier.
The company benefited from higher scrap prices and its diversified product mix.