Hot briquetted iron production plant, US
Name of the Project
Hot briquetted iron (HBI) production plant.
Location
Toledo, Ohio, in the US.
Client
Cleveland-Cliffs Incorporated.
Project Description
The project involves the construction of Cliffs’ first HBI plant. The plant will have a nominal capacity of 1.6-million tons a year of HBI.
Potential Job Creation
The project is expected to create 130 permanent jobs and more than 1 200 construction jobs over the next two years.
Net Present Value/Internal Rate of Return
Not stated.
Value
The projected investment in the entire project is estimated at $700-million.
Duration
Cliffs expects to break ground for the construction of the HBI plant in early 2018, with the production of commercial tonnage of HBI beginning in mid-2020.
Latest Developments
Cleveland-Cliffs launched two debt offerings in December 2017 totalling $716-million to help fund its HBI production plant.
Key Contracts and Suppliers
Midrez Technologies (design, engineer and procure equipment).
On Budget and on Time?
Not stated.
Contact Details for Project Information
Cleveland-Cliffs Incorporated director: corporate communications Patricia Persico, tel +1 216 694 5316 or email info@clevelandcliffs.com.
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