Big River Steel mill breaks ground

Big River Steel LLC, joined by Gov. Mike Beebe, broke ground Monday, Sept. 22, on its $1.3 billion dollar steel mill and recycling facility in Osceola.
Big River Steel LLC, joined by Gov. Mike Beebe, broke ground Monday, Sept. 22, on its $1.3 billion dollar steel mill and recycling facility in Osceola.

Big River Steel LLC broke ground Monday on its $1.3 billion dollar steel mill and recycling facility in Osceola, a project which is the largest private investment in Arkansas’ history.

Chairman and CEO John Correnti said the facility, set for completion in March 2016, would be the “world’s most advanced steel mill” and is expected to employ more than 500 people who will be paid an average annual salary of $75,000.

The mill will produce steels used in the automotive and energy industries, the company said in a statement.

The project was announced in 2013 and received $125 million in general obligation bonds from the Arkansas Legislature, who can approve up to 5 percent of the state’s general revenue budget used to bond projects beneficial to the state’s economy.

Read Tuesday's Arkansas Democrat-Gazette for more on this story.

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