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Austrian voestalpine invests more than a half billion euros in a direct reduction plant in the U.S.

April 23, 2014

After about a year of preparation, Wolfgang Eder, CEO of voestalpine, broke ground on April 23, 2014 for the construction of a direct reduction plant in Texas (USA).

This EUR 550 million investment is the largest foreign investment in the history of the Austrian Group. The voestalpine Texas LLC plant is being constructed at the La Quinta Trade Gateway Terminal in close proximity to the City of Corpus Christi. Starting in 2016, the plant will produce two million tons of HBI (Hot Briquetted Iron) and DRI (Direct Reduced Iron) annually and will supply Austrian locations, such as Linz and Donawitz, with “sponge iron” as a premium raw material. With the new facility, voestalpine can significantly reduce production costs in Europe. The highly automated plant will create 150 jobs.

The plant will produce two million tons of DRI/HBI annually, of which about half will be shipped by sea to the steel plants in Linz and Donawitz. The other half will be used as a strategic reserve and sold to long-term partners.

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