$218M Steel Plant Promised for Former J&L Aliquippa Tin Mill
ALIQUIPPA, Pa. – 72 Steel Group LLC, a Brooklyn-based steel manufacturer, plans to announce Tuesday that it will build a $218 million steel fabrication plant at the former site of J&L Steel’s tin mill here, the Pittsburgh Business Times first reported Friday.
72 Steel, founded in 2016 is owned by Chinese-American entrepreneurs. It selected the Pittsburgh area, which it terms the “steel capital, so that the company can reach a higher level and create a brand image of American Chinese steel king,” the company said on its website.
Lin Huabin, president of 72 Steel, said the decision to build a manufacturing plant in Aliquippa followed the passage in November 2021 of the Investment and Jobs Act. Company, local officials and economic development officials recently gathered there to inspect the site.
72 Steel produces and sells rebar and section steel, products used building and infrastructure construction. The $218 million project would be the company’s first foray into steel production.
According to the company, “The production capacity and output value of the steel project will reach $400 million U.S. dollars.”
“Pursuing energy-saving and consumption reduction, it will use the world’s most advanced steel production technology, with an annual output of 500,000 tons of high-end steel production capacity,” the company said.
Image: 72 Steel. Company executives are photographed at the project site.
Copyright 2024 The Business Journal, Youngstown, Ohio.
