U.S. Steel Košice will invest $130 million in Košice

It will construct a new line to produce more electrical steel.

US Steel KošiceUS Steel Košice(Source: Courtesy of USSK)

The U.S. Steel Košice (USSK) steelworks will build a new line for the production of non-grained oriented electrical steel, investing $130 million. Its production capacity is expected to be roughly 100,000 tonnes a year, the TASR newswire reported.

The construction will start in mid-2019, while it is expected to launch production at the end of 2020, said Ján Bača, a USSK spokesperson.

Slovakia as a steel-production leader

"We are going to build this new line for non-grain oriented electrical steel because of the growing demand from our clients," said USSK President James. E. Bruno, as quoted by TASR.

He considers Slovakia to be a European leader in the steel industry, adding that the USSK wants to become a long-term, priority supplier of steel for global players.

Read also:U.S. Steel Košice has record profits Read more 

The new line will manufacture high-quality and advanced electrical steel sheets, which can be used in e-cars, or for manufacturing devices that produce electricity, He added.

"I welcome this investment and orientation towards this sector since electromobility will become a trend in Slovakia in the years to come," said Economy Minister Peter Žiga, as quoted by the regional Korzár daily.

No stimuli will be provided

Read also:U.S. Steel does not plan to leave Košice Read more 

Prime Minister Peter Pellegrini considers the investment good news, especially after the months of speculation that the Americans want to sell the company.

"The decision to invest more than $130 million is a good signal for all the people living in Košice," said Pellegrini, as quoted by Korzár, adding that the investment confirms that USSK wants to remain in Slovakia.

The prime minister confirmed that the company did not ask for any stimuli.

The processing of personal data is subject to our Privacy Policy and the Cookie Policy. Before submitting your e-mail address, please make sure to acquaint yourself with these documents.

Top stories

Gorilla sends Slovaks back to the streets

For a Decent Slovakia protests continued in five locations around Slovakia.

Košice protest on October 18

Nicholson: Only a naive person would believe anything has changed

A former Slovak Spectator and Sme journalist wrote a book about the Gorilla file.

Tom Nicholson

Protests will take place, Pellegrini says Fico can sleep well at night

Read the reactions to the published Gorilla recording.

Smer chair Robert Fico

Two nominees for Record of the Year released within a week

Arguably, only a handful of journalists are likely to hear all 39 hours of Gorilla, but the public will no doubt jump at some sequences.

Protests over the Gorilla scandal drew thousands into Slovakia’s squares.