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DEARBORN, MI-Severstal North America says it plans to modernize the sprawling former Rouge steel plant it purchased last year. The plan is part of a more than $500-million investment the Russian steel firm plans to make in the plant between now and the end of the decade. The company says the investments mean that the plant, first created by Henry Ford to supply his neighboring Model T factory, will be making steel for decades to come.
The company says its first step will be to invest more than $180 million to add capabilities to improve furnace productivity, efficiency and reliability and significantly reduce particulate emissions associated with the iron making process inits locally based steel making operations.
The company has applied for state environmental permits to begin the work. The company says after a larger furnace is upgraded, it will evaluate keeping a smaller furnace in operation, depending on market demand.
Ronald J. Nock, president and CEO of Severstal North America, commends the Michigan Economic Development Corp., the Michigan Economic Growth Authority and the City of Dearborn, the entities that helped the company "lay the foundation for investments in excess of $500 million in our Dearborn facilities over the next four years."
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