Nucor Corporation, a US-based producer of steel and related products, is set to construct a new rebar micro mill in Sedalia, Missouri.
Located about 90 miles east of Kansas City, the new micro mill project will represent at least $250m in new investments.
Subject to the final approval and award of state and local incentives as well as required permits and regulatory approvals, the mill is anticipated to commence operations in 2019.
The project will create 255 full-time jobs and 450 temporary construction jobs.
Furthermore, Nucor believes that the mill’s location will enable the firm to make use of the scrap supply in the immediate area provided by Nucor's scrap business, The David J. Joseph Company.
Nucor chairman, CEO and president John Ferriola said: "This rebar micro mill project is consistent with our long-term strategy for profitable growth and builds on our position as a low-cost producer.
"Strategically positioning this micro mill in the Kansas City area will give us a sustained cost advantage over other domestic steel producers supplying rebar from outside the region."