BlueScope, an Australian steel producer, has approved the expansion of its North Star facility in Delta, Ohio. The company will add an additional 850,000 metric tons per year of steelmaking capacity. The $700 million project is expected to begin in mid-2022 with full ramp-up scheduled for approximately 18 months later. In addition, the expansion has potential future growth of a further 500,000 metric tons per year. According to BlueScope, the expansion offers long-term sustainable earnings growth from a high-quality asset.
Currently, around 2 million metric tons of hot-rolled coil are produced annually from North Star's dual electric-arc furnaces using scrap metal, pig iron and alloys. According to BlueScope, North Star ranks fifth by volume in the production of hot-rolled coil in North America. The facility has 400 employees.
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