GRANITE CITY, Ill., May 5 /PRNewswire-FirstCall/ -- United States Steel
Corporation (NYSE: X), in partnership with SunCoke Energy, Inc., broke
ground today on a $570 million joint capital investment program to support
the U. S. Steel Granite City Works. U. S. Steel will provide $280 million
in this joint capital investment program. As part of the program, Gateway
Energy and Coke Company, an indirect wholly owned subsidiary and affiliate
of SunCoke Energy, will construct, own and operate heat recovery coke
ovens. The ovens will have an annual coke making capability of 650,000 tons
and utilize state-of-the-art technology to produce coke in an
environmentally responsible way. The program also includes the construction
of a cogeneration facility to be owned and operated by U. S. Steel.
Construction of these facilities is expected to take 18 months and will
generate approximately 900 temporary construction jobs at its peak. When
completed, these facilities are expected to create 88 full-time jobs while
enhancing the long-term viability of the U. S. Steel Granite City Works.
"Our more than 2,000 dedicated employees and their predecessors have
made this facility a key contributor to the local economy for more than 100
years, while supplying high-quality flat-rolled carbon sheet steel to the
construction, container, pipe and tube, service center, and electrical
industries. This significant new investment demonstrates U. S. Steel's
commitment to environmental stewardship, highlights our commitment to
Granite City and the surrounding communities, and helps to ensure that our
entire company remains well positioned in an increasingly competitive
global industry," said U. S. Steel Executive Vice President and Chief
Operating Officer John H. Goodish.
The new coke facility will use SunCoke Energy's proven low-emission
technology to process coal into coke, a key ingredient in steelmaking. The
technology has been recognized by the U.S. Environmental Protection Agency
as setting the standard for coal processing ovens. The energy generated in
the coke making process will be used in a cogeneration plant that will
provide electricity to Granite City Works.
U. S. Steel and SunCoke Energy worked closely with environmental
stakeholders to establish a number of benchmarks to further demonstrate our
joint commitment to environmental stewardship. Both companies will go
beyond compliance by taking additional steps to monitor and reduce
emissions at existing facilities. The companies will also create a trust
fund for area projects that promote environmental conservancy.
Among those participating in the groundbreaking ceremony were Illinois
Gov. Rod Blagojevich; U.S. Rep. John Shimkus; Illinois state Reps. Tom
Holbrook, Jay Hoffman, and Daniel Beiser; Illinois state Sen. William
Haine; Ed Hagnauer, mayor of Granite City; John Goodish, executive vice
president and chief operating officer of United States Steel Corporation;
Mike Thomson, executive vice president and chief operating officer of
SunCoke Energy, Inc.; Sharon Owen, general manager of U. S. Steel Granite
City Works; employees of U. S. Steel and SunCoke Energy as well as other
state and local elected officials.
This release contains forward-looking statements concerning the
construction of a coke facility and a cogeneration facility. The timing,
cost and ultimate capability and employment potential of the facilities are
subject to several conditions including, among others, the terms of
construction contracts, availability of materials, possible construction
problems or delays, demand for steel products as it impacts operations at
Granite City Works, general economic conditions and the financial condition
of U. S. Steel and Gateway. 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.
For more information about SunCoke Energy Incorporated, visit
http://www.suncoke.com.
SOURCE United States Steel Corporation
 back to top
Related links:
http://www.ussteel.com
http://www.suncoke.com
http://www.prnewswire.com/comp/929150.html /
CONTACT:
Courtney Boone, +1-412-433-6791, or John
Armstrong, +1-412-433-6792, or Erin DiPietro, +1-412-433-6845,
all of United States Steel Corporation
|
