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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.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn.
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.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn.
