WASHINGTON (dpa-AFX) - Steel manufacturer Nucor Corp. (NUE), Wednesday announced that the board has approved $860 million for funding the construction of a 650,000-tons-per-year rebar micro mill in the Pacific Northwest.
The new project would produce different sizes of rebar, which is primarily used in the construction of roads, buildings, and other structures, the company stated.
The project is expected to be completed in two years.
In the pre-market activity, Nucor's stock is trading at $183.99 on the New York Stock Exchange.
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