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VIENNA, July 4 (Reuters) - Austrian steel group Voestalpine has awarded the contract to build a 550 million euro ($713.5 million) plant in Texas to Siemens AG and its partner Midrex Technologies Inc, Voestalpine said on Thursday.
The consortium will provide engineering, mechanical and electrical equipment, and consulting services for the direct reduction plant with annual capacity of two million tonnes of hot briquetted iron. Production is set to start in early 2016.
Voestalpine in March picked Texas as the location for the sponge iron plant, a sign that cheap U.S. energy prices are attracting industrial investment as Europe lags behind.