Voestalpine mulls $1 bln U.S. plant - report
VIENNA Dec 16 (Reuters) - Austria's group Voestalpine is considering a plan to build a $1 billion plant in the United States that would convert iron ore into concentrate used in steelmaking, Trend magazine reported.
Voestalpine declined to comment on the report, which was released ahead of publication on Monday.
Trend said the plant was envisioned for a coastal city in the southern United States, given cheap and reliable supplies of natural gas, political stability and efficient port infrastructure.
A source familiar with the situation said such a plan was under consideration but no decisions were imminent.
Voestalpine Chief Executive Wolfgang Eder has been pushing for foreign expansion to help diversify from Europe, where he says political opposition to closing plants is weighing on efforts to address chronic overcapcity in the steel sector.
- Alabama man gets $1,000 in police settlement, his lawyers get $459,000
- Doctor who worked in Africa first Ebola case in New York City |
- Exclusive: Charred tanks in Ukraine point to Russian involvement
- Ground offensive against Islamic State months away in Iraq: U.S.
- U.S. stock futures tumble on reports of NY Ebola case