CORPUS CHRISTI - Voestalpine AG, an Austrian-based steel company, will break ground later this month on a natural gas-based direct reduction plant. The company plans to invest $740 million in the new plant which will employ 150 full-time staff and create approximately 800 construction jobs.
The plant that will produce hot briquetted iron, which is a primary material for raw steel making. This is the company’s largest foreign direct investment into the United States to date and a major step in achieving a low-carbon economy.
The project is expected to be complete by the end of 2015.
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