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Nippon Steel to invest about $3 billion in Pennsylvania plant, report says
The reported hot rolling upgrade at U.S. Steel's Mon Valley works is part of an $11 billion investment pledge running through 2028.
Nippon Steel will spend about $3 billion upgrading the hot rolling facility at U.S. Steel's Mon Valley works in Pennsylvania, according to a media report on October 22. The replacement equipment is scheduled to begin operating in the second half of 2029.
The investment falls under the Japanese steelmaker's commitment to put $11 billion into U.S. Steel by 2028 after acquiring the company in 2025. Nippon Steel did not immediately provide a response when asked for comment outside its regular business hours.
The existing equipment has operated for about 90 years. It heats iron slabs from blast furnaces before rolling them into thinner steel. Its replacement would allow the plant to make higher-quality steel, the media report said.
In August, Nippon Steel increased its earnings forecast for fiscal 2026, supported by improved earnings at U.S. Steel and strength in the steel market.