Voestalpine Choses Texas for Record $718 Million Pellet Plant
This article is for subscribers only.
Voestalpine AG, Austria’s biggest steelmaker, chose Texas as the site for its record 550 million-euro ($716 million) investment in an iron-ore pellet factory, saying it would have been impossible to build in Europe.
The company made its decision because of political support and access to energy supplies in the U.S. state, it said today on its website. The plant will be set on two square kilometers (0.8 square mile) of land with access to Corpus Christi Bay and pellets will be shipped to Europe, the Linz-based company said.