Cleveland-Cliffs has announced a $1 billion investment in its Middletown Works steel facility in Ohio, with the company and the U.S. Department of Energy expected to provide $500 million each.
The DOE has established a framework for Cleveland-Cliffs to finalize negotiations and implementation plans around a previously awarded $500 million federal grant.
The investment is expected to be deployed over approximately four years while steel production continues at the facility.
Middletown Works is a major Cleveland-Cliffs plant producing automotive-grade steels used in exposed vehicle applications.
Planned upgrades include improvements to the blast furnace, advanced material-handling infrastructure and AI-enabled process-control technologies.
Cleveland-Cliffs also plans to construct an advanced cogeneration facility that captures blast furnace gas and converts it into electricity and steam for use at the plant.
The project is intended to improve energy efficiency, decrease dependence on externally supplied electricity and reduce operating costs.
Work is expected to begin in the coming weeks, with the blast furnace rebuild targeted for completion in the first quarter of 2030.
The project is expected to preserve approximately 2,300 existing jobs at Middletown Works and employ more than 1,500 workers at peak construction.
The plant currently produces about three million tons of raw steel annually.
KEY QUOTE:
“Cleveland-Cliffs is making a decisive investment in the future of American steelmaking and manufacturing, going above and beyond a standard blast furnace reline, to include the most advanced technology available. Through our cooperation with President Trump’s Administration and the U.S. Department of Energy, we developed a project reliant on proven technology that improves operational efficiency and competitiveness. This investment strengthens domestic steelmaking, preserves 2,300 jobs and ensures that Middletown Works remains one of the premier steelmaking facilities in North America for decades to come.”
Lourenco Goncalves, Chairman And CEO Of Cleveland-Cliffs
