U.S. Steel Corp. on Tuesday announced that it has chosen Osceola as the location for a new $3 billion steel mill.
The next-generation mill will be built near U. S. Steel’s Big River Steel plant and construction is set to start soon, pending permit approval. Completion and operation of the mill is scheduled for 2024.
The new mill is expected to have two electric arc furnaces with “3 million tons per year of advanced steelmaking capability, a state-of-the-art endless casting and rolling line, and advanced finishing capabilities,” according to a news release from the company.
“With this location selected and shovels ready, we are reshaping the future of steelmaking,” U.S. Steel President and Chief Executive Officer David B. Burritt said in the release. “We had numerous competitive site options, but Osceola offers our customers incomparable advantages.”
Gov. Asa Hutchinson said Arkansas has created an ideal business environment for the growth of the steel industry.
“The investment and high-paying jobs that will result from this announcement will make a real difference in the lives of many families in Northeast Arkansas,” Hutchinson said.