Name of the Project
Toledo hot-briquetted iron (HBI) production plant.
Location
Toledo, Ohio, in the US.
Client
Cleveland-Cliffs.
Project Description
The project entails the construction of Cleveland-Cliffs’ first HBI production plant.
The facility will be one of the world’s most modern and efficient iron-making plants.
TheToledo plant will produce 1.6-million metric tons a year of customised high-quality HBI, and will make Cleveland-Cliffs the sole producer of high-quality customised feedstock for the domestic electric arc furnace (EAF) steelmakers in the Great Lakes region.
Potential Job Creation
The project will create an estimated 130 jobs. At peak construction, 1 200 people will work on the site.
Net Present Value/Internal Rate of Return
Not stated.
Value
$700-million.
Duration
Start-up of the plant is expected to happen in the summer of 2020.
Latest Developments
None stated.
Key Contracts and Suppliers
None stated.
On Budget and on Time?
Not stated.
Contact Details for Project Information
Cleveland-Cliffs director – investor relations Paul Finan, tel +216 694 6544.