The local Lion Diversified Holdings BHD signed a memorandum of understanding with Midrex Technologies regarding the construction of a new direct reduced iron plant. According to the terms of the MOU construction plans under consideration call for building a complex with an installed production capacity of 1.5 million tons per year of DRI.
The proposed facility will enable the production of hot DRI for on-site consumption via hot transport to Lion Group’s three electric arc furnaces at two adjacent steel mills known as Megasteel and Amsteel II.
MIDREX is expected to finalize a contract this fall, and hopes to break ground on the project by late 2006. Although no investment details have yet been revealed industry sources have stated that such a mill is likely to cost about $ 100,000,000 to build.
Lion Diversified operates as an investment holding company.
Latest from Recycling Today
- Interchange 360 to operate alternative collection program under Washington’s RRA
- Waste Pro files brief supporting pause of FMCSA CDL eligibility rule
- Kuraray America receives APR design recognition for EVOH barrier resin
- Tire Industry Project publishes end-of-life tire management guide
- Des Moines project utilizes recycled wind turbine blades
- Charter Next Generation joins US Flexible Film Initiative
- Vecoplan to present modular solutions at IFAT 2026
- Terex Ecotec appoints Bradley Equipment as Texas distributor
