Nucor buys land in Louisiana for proposed pig iron plant

Friday, 22 May 2009 01:23:03 (GMT+2)

Nucor Corp. has purchased 890 acres of land in St. James Parish, Louisiana for $16.3 million, indicating that St. James Parish may be the likely destination for its new projected $4 billion pig iron plant.

Nucor announced late last year that the new plant would be located in either Louisiana or Brazil. Nucor has not committed to the Louisiana location yet, and will not do so until the state and federal environmental permits are granted.

Louisiana Economic Development Secretary, Stephen Moret, told press, "While we understand that Nucor will not make a final site-selection decision until its air-quality permit is approved by the US Environmental Protection Agency, we certainly view the company's decision to begin purchasing land to assemble the proposed site as a very positive indicator of Nucor's interest in Louisiana."

The land available in St. James Parish would encompass about 4,000 acres on the east bank of the Mississippi River and would generate a price tag of over $50 million.

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