VIENNA Dec 16 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
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.