U.S. Steel Nixes $1.5 Billion Expansion at Mon Valley Works

Researched by Industrial Info Resources (Sugar Land, Texas)--United States Steel Corporation (NYSE:X) (Pittsburgh, Pennsylvania) has cancelled a $1.5 billion expansion and modernization project at its Mon Valley Works in Pennsylvania. Chief Executive Officer David Burritt made the announcement during the company's first-quarter earnings results call on Friday.

The project would have added a new endless casting and rolling mill and a 94-megawatt cogeneration power plant. Burritt cited the company's environmental goal to achieve net-zero carbon emissions by 2050 as the main factor in the decision.

The Mon Valley Works includes the Edgar Thomson plant, the Irvin Steel plant and Clairton Coke plant.

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