WASHINGTON (dpa-AFX) - Steel Dynamics, Inc. (STLD) announced Tuesday that its Board of Directors has authorized the company to construct and operate a 650,000-tonne low-carbon, recycled aluminum flat rolled mill, with two supporting satellite recycled aluminum slab centers.
The capital investment is estimated to be $2.2 billion for the three facilities, and commercial production is planned to begin in the first quarter 2025.
The state-of-the-art aluminum flat rolled mill will utilize a significant amount of aluminum scrap, and as such is also a complementary extension of the company's metals recycling platform, which is the largest nonferrous metals recycler in North America.
The company estimates the project will generate between $650 million and $700 million of annual EBITDA on a through-cycle basis. The project will be funded with available cash and cash flow from operations.
The planned $1.9 billion aluminum flat rolled mill will be located in the Southeastern U.S., with an annual production capacity of 650,000 tonnes of finished products, serving the sustainable beverage packaging, automotive, and common alloy industrial sectors.
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