Big River Steel broke ground on its USD 1.3B steel mill and recycling facility in Osceola, Arkansas, the single largest private investment in the state’s history. Joining local, state and federal officials for the ceremony were Big River Steel leaders and investors. Big River’s Osceola facility will produce those steels currently under-supplied in the domestic U.S. market while employing more than 500 people with an average annual compensation of USD 75,000. Construction of the facility will take approximately 20 months to complete.
Big River Steel announced plans to build the flex mill in early 2013, combining the cost advantages and flexibility of a traditional mini mill with the production capabilities in gauge, grade and width of an integrated mill. The facility will produce a full range of high-strength, lightweight steels used in the automotive industry, wide and thick steels used in the most demanding pipe and tube applications, and electrical steels used in the energy industries. The company officially closed on financing necessary to build the facility in July 2014.
