Hybar LLC has secured financing to support construction of a second electric rebar mini mill, a project that will expand domestic steelmaking capacity through electric arc furnace technology. The additional mill will increase reinforcing steel production for the U.S. construction sector.
The company announced it has secured approximately $1.1 billion in financing to support the expansion, which will be built adjacent to the company’s existing facility in Osceola, Arkansas. Upon completion, the second mill is expected to double the company’s annual reinforcing steel production capacity to approximately 1.3 million tons.
SMS group supplied the company’s electric arc furnace, continuous caster, and rolling mill for the existing facility. Now, SMS group has been commissioned to supply the technology and equipment for the expansion mill. Construction is expected to be completed in about 24 months.
Hybar’s rebar is being used in data center projects, medical campus expansions, the energy infrastructure buildout, and the continued repair and upgrading of roads, bridges, and tunnels. Hybar plans to continue penetrating these markets with the expansion mill.
Press release is available in its original form here.
