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 startup 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, with the work to be done in phases over a number of years.

The reduced iron plant announcement was included in Nucor’s third-quarter earnings.

Earnings increase at Gulf Coast Bank

Gulf Coast Bank and Trust announced year-to-date earnings of $7.32 million as of Sept 30, a 26 percent increase over $5.82 million during the same period last year.

The New Orleans bank, which also operates in Baton Rouge, attributed the increase to customer response to free checking accounts in the face of larger banks charging monthly debit card fees.

Gulf Coast also opened a temporary office on the West Bank while a permanent facility is being built.