Governor, U.S. Steel executives break ground on $3 billion steel mill in Osceola
By Paul Holmes
Talk Business & Politics
U.S. Steel execs and Arkansas officials broke ground Tuesday (Feb. 8) on the largest economic development project in Arkansas history, a $3 billion steel mill at Osceola. U.S. Steel President and CEO Dave Burritt said it will be “the most technologically advanced mini-mill on the planet” when completed in 2024.
The mill will be built on a tract adjacent to the existing Big River Steel mill, which U.S. Steel acquired on Jan. 15. U.S. Steel had acquired a portion of the Big River Steel previously.
Burritt said his company, which has what he called a “big carbon footprint,” faces a number of challenges. The company must “go green” and it faces capital intensity and competition intensity, Burritt said.
“We’re catching them and we’re moving very fast. We have the best mini-mill in North America with Big River Steel and it’s going to be better,” Burritt said of competition in the industry.
Both Burritt and Gov. Asa Hutchinson mentioned speed when describing the project. Officials from U.S. Steel and the state of Arkansas had their first meeting on the project this past September.