Nucor Corp. announced that its board of directors approved the construction of a new state-of-the-art sheet mill. The approximately $2.7 billion facility will have the capacity to produce 3 million tons of steel annually. The company is evaluating locations in Ohio, Pennsylvania and West Virginia. The mill will be able to produce hot-rolled sheet products with downstream processing including a tandem cold mill, annealing capabilities and two galvanizing lines. Galvanizing capabilities will include an advanced high-end automotive line with full inspection capabilities and a construction-grade line.

The facility will be geographically situated to serve customers in the Midwest and Northeast markets and will have a significantly lower carbon footprint than nearby competitors, according to Nucor. Once permitting and other regulatory approvals are received, construction is expected to take two years.