By: KDKA-TV News Staff
BRADDOCK (KDKA) – US Steel announced that it has canceled its investment project at the Mon Valley Works.
CONTINUE READING: US Steel is investing $ 1 billion in Mon Valley Works
In 2019, US Steel pledged to invest more than $ 1 billion in cutting-edge technology, which would include new sustainable endless casting and rolling.
Originally, the project was supposed to be completed sometime in 2022.
US Steel said the stressors of the coronavirus pandemic and climate change influenced their decision. With the pandemic, US Steel claims delays by Allegheny County’s Health Department have significantly slowed construction progress.
“We have commissioned the manufacture of the devices and started preparations for the site,” wrote President and CEO David Burritt in a letter.
“However, with more than $ 170 million and equipment storage in warehouses in the Pittsburgh area, we are only at the beginning of the project execution. During the same period, a competing steelmaker in another state announced a new steel mill and will be ready to produce steel this year. ”
“At the start of the pandemic, US Steel agreed to the need for the county’s Department of Health to temporarily delay the approval process for the Mon Valley Works. However, that delay opened up a window of opportunity for us to expand our understanding of the future of steelmaking in a rapidly decarburizing world, ”he added.
Earlier this month, US Steel committed to zero carbon emissions by 2050. US Steel has also stated that the Mon Valley will continue to produce steel.
In November 2020, Burritt indicated that the Mon Valley project may not be completed and that the investment “could go elsewhere.”
MORE NEWS: US Steel CEO: $ 1.5 billion planned to work in Mon Valley “could go anywhere else”
Stay with KDKA as we follow this developing story.
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