International industrial and metals group Liberty House, a part of GFG Alliance, has announced that it has restarted the Georgetown steel mill in South Carolina, US, today, June 25, which has remained idle for almost three years.
Group executive chairman, Sanjeev Gupta, stated that the recommissioning of Georgetown’s furnaces and wire rod mills would be the first in a series of GFG projects across the US and Canada, amounting to more than $5 billion in investments over the next few years. Of this, $1 billion is expected to be invested during the coming year to acquire and develop steel, aluminum, engineering, mining, energy generation, and financial services assets. The group is also establishing a New York regional head office as a hub for its global business.