US Steel, Nippon Steel Announce $11 Billion Investment Over 3 Years

The steelmakers plan to modernize and expand steel production at major facilities in Indiana and Pennsylvania and create more than 100,000 jobs.

Rolls of finished steel are seen at the U.S. Steel Granite City Works facility in Granite City, Ill., on June 28, 2018. Jeff Roberson/AP Photo

The U.S. Steel Corp. unveiled plans on Nov. 4 to create approximately $14 billion in growth by modernizing and expanding its operations through its partnership with Nippon Steel Corp., which acquired the former this past summer.

U.S. Steel stated that it would deploy $11 billion in capital commitments from Nippon Steel over the next three years that could potentially unlock an additional $3 billion in value through operational efficiencies and increased earnings. The steelmakers plan to modernize and expand steel production at major production facilities in Indiana and Pennsylvania, expand research and development, and create more than 100,000 jobs.