Exclusive: Nippon Steel to invest $4 billion for new U.S. Steel mill in $14 billion package, document says
Source: Reuters
May 19, 2025 3:58 PM EDT Updated an hour ago
WASHINGTON, May 19 (Reuters) - Nippon Steel (5401.T), opens new tab plans to invest $14 billion in U.S. Steel's (X.N) operations including up to $4 billion in a new steel mill if the Trump administration green lights its bid for the iconic U.S. company, according to a document and three people familiar with the matter.
Under details of the plan included in the document, the company will plow $11 billion into U.S. Steel's infrastructure through 2028. That includes $1 billion in a green field site, which is expected to grow by $3 billion over the following years and has not been previously reported. The total investment figure was previously reported by CTFN. Shares of U.S. Steel rose after the Reuters report and were up 1.5%.
The super-charged investment pledge, up from an initial $1.4 billion, was pitched as part of a last ditch effort to win approval of the merger, which has drawn fire from both Presidents Donald Trump and Joe Biden. The companies face a May 21 deadline for the completion of a fresh national security review of their proposed tie-up, which was blocked by Biden on national security grounds in January following a prior review.
Trump would then have 15 days to decide the fate of the transaction, although the timeline could slip. It is unclear if the billions in new investment will be enough to sway Trump, though two other sources said his administration sought the increased investment. The new pledge should be enough to entice the Trump administration to approve the merger, said Nick Klein, a lawyer from DLA Piper.
Read more: https://www.reuters.com/business/nippon-steel-invest-14-billion-us-steel-including-4-billion-new-mill-document-2025-05-19/
Heard about this on the radio this afternoon.
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