U.S. Steel to invest about 900 million euros in its Slovak steel plant

U. S. Steel Kosice, a subsidiary of Nippon Steel, will invest approximately 900 million euros to build an electric arc furnace and an air separation unit at its Kosice plant site in Slovakia. The investment is eligible for a subsidy of up to 350 million euros from the Slovak government. The electric arc furnace will have an annual capacity of approximately 1.6 million tons. The project is expected to begin production in 2030.