Nippon Steel plans to invest $14 billion in U.S. Steel’s operations, including up to $4 billion for a new steel mill, if the Trump administration approves its $14.9 billion takeover bid, reports Alexandra Alper and Jarrett Renshaw of Reuters. This expanded investment is part of a push to reverse a previous national security-related block under President Biden. The company has raised its initial investment pledge from $1.4 billion to $11 billion through 2028, with additional commitments to U.S. jobs and infrastructure. Despite the increased offer, it’s unclear if the Trump administration will approve the deal amid ongoing political and national security concerns. They write:
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 two 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. […]
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