FRANKFURT--Austrian steel company Voestalpine AG (VOE.VI) is
considering the construction of a $1 billion steel plant in a
coastal city in the south of the U.S., Austrian magazine "trend"
reports Sunday without citing sources.
The new plant, were it to be built, would transform iron ore
into high quality steel concentrate by using natural gas, the
magazine says in a pre-released report. The new method helps to
reduce energy costs and carbon emissions, "trend" says.
A spokesman for Voestalpine declined to comment Sunday.
German steelmaker ThyssenKrupp (TKA.XE), in contrast, is trying
to dispose of its steel plants in Alabama and Brazil after the
costs for building the mills mushroomed, leading to hefty
write-offs and a EUR4.7 billion net loss for the group in the
fiscal year ending Sept. 30.
Write to Eyk Henning at eyk.henning@dowjones.com
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