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Nippon Steel Plans $1 Billion Investment in Slovakia

Provided by Dow Jones Sep 16, 2026, 2:47:00 AM

By Kosaku Narioka

Nippon Steel plans to invest about $1 billion in Slovakia to bolster its supply of high-grade, low-carbon steel products.

The Japanese steelmaker said Wednesday that its Slovak operating unit, U.S. Steel Kosice, will allocate approximately 900 million euros, equivalent to $1.04 billion, in a new electric arc furnace and a new air separation unit.

The unit has signed a grant agreement with the Slovak government for up to 350 million euros from the European Union's Modernization Fund, Nippon Steel said.

The new electric arc furnace will have an annual production capacity of about 1.6 million metric tons, with production expected to begin in 2030, the Japanese company said. The air separation unit is expected to start operations in 2029.

Write to Kosaku Narioka at kosaku.narioka@wsj.com

(END) Dow Jones Newswires

September 15, 2026 22:47 ET (02:47 GMT)

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