Nippon Steel to spend $3 billion in US Steel plant equipment upgrade, Nikkei reports

Nippon Steel plans to spend approximately $3 billion upgrading the Mon Valley steel plant in Pennsylvania, according to a Nikkei report. The investment is part of the Japanese company's commitment to spend a total of $11 billion in the U.S. by 2028. Mon Valley's hot rolling facility, responsible for heating and rolling iron slabs into thinner steel, has been in operation for about 90 years. The new equipment, due to be operational by the second half of 2029, will enable the production of higher-quality steel.