Nippon Steel announced plans to invest approximately $3 billion in new hot-rolling facilities at U.S. Steel's Mon Valley Works in the United States. Nippon Steel committed at the time of the acquisition to make an additional $11 billion in investments by 2028, and the latest investment is expected to be the largest to date.
According to Jiji Press, reporting from New York, Nippon Steel announced plans to invest approximately $3 billion in new hot-rolling facilities at U.S. Steel's Mon Valley Works.
The investment is part of Nippon Steel's $11 billion investment plan through 2028, which it committed to at the time of the acquisition, and the latest project is expected to be the largest under the plan.