Arcelormittal To Add Plant In Calvert

ArcelorMittal has been awarded $280 million in federal income tax credits for an additional plant in Calvert, Business Alabama reports. The company plans an advanced manufacturing plant capable of delivering 150,000 mT of non-grain-oriented electrical steel annually. The funds come from the Qualifying Advanced Energy Product Credit, which can fund up to 30% of a project that helps secure the domestic clean energy supply chain. The company plans an annealing pickling line, a cold-rolling mill, an annealing coating line and other facilities. These are to create 1,300 construction and 260 permanent jobs. It is to be built near the AM/NS Calvert plant, which includes a hot strip mill, a cold rolling mill, hot dip galvanizing lines, a river terminal, a rail yard and an under-construction electric arc furnace. The company notes that the specialty steel is especially useful in producing electric vehicles, which, in turn, help meet federal clean energy goals.