Australian Steelmaker to Expand in Ohio
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.