MONTGOMERY, Ala., April 18 /PRNewswire-FirstCall/ -- United States
Steel Corporation (NYSE: X) announced today that it has filed permit
applications related to a proposed capital investment program totaling in
excess of $150 million in Port of Epes in Sumter County, Ala. The program
would involve the construction of a carbon alloy synthesis facility and a
cogeneration facility that would create 75 full-time and 250 temporary
construction jobs in its first phase of operation. The program will improve
the cost competitiveness of U. S. Steel's Fairfield Works near Birmingham.
Completion of the proposed program would take an estimated 18 months after
the permitting process is concluded.
The proposed facility would utilize state-of-the-art technology
supplied by Carbonyx, Inc. that processes coal into Cokonyx(TM) carbon
alloy material, a product that can displace traditionally manufactured
coke, a key ingredient in steelmaking. The facility would produce 250,000
tons of Cokonyx(TM) carbon alloy material per year. All of the Cokonyx(TM)
carbon alloy material produced at the proposed facility would be used at U.
S. Steel's Fairfield Works. The Carbonyx process employs technology that
results in a significant reduction in emissions and energy consumption when
compared to a traditional coke making facility or other commercial
non-recovery processes. Additionally, the gasses created during the process
would be utilized in the proposed cogeneration facility.
After the facility has attained full production and adequate product
testing has occurred, the project may then move into further phases subject
to business conditions. Upon completion of all phases, 235 full-time
positions will have been created and $450 million will have been invested
in the project over a period of years.
U. S. Steel will work with appropriate agencies and stakeholders to
complete the permitting process for the initial project phase, which the
company hopes to conclude later this year. The decision to proceed
following the receipt of the necessary permits will depend upon permitting,
business conditions and approval of U. S. Steel's Board of Directors.
"The future of steelmaking requires new thinking and the use of
breakthrough technologies in order to operate in cost-effective and
environmentally responsible ways," said U. S. Steel Chairman and CEO John
P. Surma. "By partnering with Carbonyx, Inc., U. S. Steel is demonstrating
its willingness to utilize innovative technologies as alternatives to
traditional coke making that will still result in a high-quality carbon
source for our Fairfield Works and ensure consistent environmental
performance and compliance. We look forward to working cooperatively with
Gov. Bob Riley, the federal, state and local elected officials representing
Alabama's historic agricultural Black Belt, and other stakeholders involved
in this important project."
U. S. Steel's operations in Alabama date back one hundred years to the
company's acquisition of Tennessee Coal, Iron and Railroad Company on Nov.
1, 1907. Today, the company operates two facilities in Fairfield: Fairfield
Works, which is the largest steelmaking facility in Alabama and has an
annual raw steelmaking capability of 2.4 million net tons, and Fairfield
Tubular Operations, a seamless pipe mill that produces tubular products
primarily for the energy industry. U. S. Steel also manages and develops
various real estate assets in Alabama through its USS Real Estate division.
Located in the Gulf South's Coastal Plain, Alabama's historic
agricultural Black Belt is named after the dark, mineral-rich topsoil that
is produced by the weathering of an exposed limestone known as the Selma
Chalk.
This release contains forward-looking statements concerning the
construction of a carbon alloy synthesis facility and a cogeneration
facility. The timing, cost and ultimate capability of the facilities are
subject to, among others, the receipt of necessary government permits,
terms of construction contracts, availability of necessary technology and
materials, general economic conditions and the financial condition of U. S.
Steel. In accordance with "safe harbor" provisions of the Private
Securities Litigation Act of 1995, cautionary statements identifying
important factors, but not necessarily all factors, that could cause actual
results to differ materially from those set forth in the forward-looking
statements have been included in the Form 10-K of U. S. Steel for the year
ended Dec. 31, 2007, and in subsequent filings for U. S. Steel.
For more information about U. S. Steel, visit http://www.ussteel.com.
SOURCE United States Steel Corporation
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Related links:
http://www.ussteel.com
http://www.prnewswire.com/comp/929150.html /
CONTACT:
Courtney Boone, +1-412-433-6791, or Erin
DiPietro, +1-412-433-6845, both of United States Steel
Corporation
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