Nippon Steel plans to invest $14 billion in U.S. Steel's operations, including up to $4 billion in a new steel mill, if the Trump administration green lights its bid for the iconic U.S. company, according to a document and three people familiar with the matter.
Under details of the plan included in the document, the company will plow $11 billion into U.S. Steel's infrastructure through 2028. That includes $1 billion in a green field site, which is expected to grow by $3 billion over the following years and has not been previously reported. The total investment figure was previously reported by CTFN.
Shares of U.S. Steel rose after the report and closed up more than 3%.
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