By Bowdeya Tweh

Nucor Corp. (NUE) said Wednesday it will spend $1.35 billion to build its new steel-plate production mill in Kentucky, ending a monthslong search for a location.

The Charlotte, N.C., steelmaker said the mill will be located in Brandenburg, Ky. Nucor affirmed its plans previously announced in January for the facility to begin operations in 2022 and to produce up to 1.2 million tons of product annually. The plate mill will employ more than 400 full-time workers at an average salary of $72,000.

The company said earlier this year it had been scouting Indiana, Kentucky, Ohio and West Virginia.

Nucor currently operates plate mills in North Carolina, Alabama and Texas.

Write to Bowdeya Tweh at bowdeya.tweh@wsj.com

(END) Dow Jones Newswires

March 27, 2019 18:05 ET (22:05 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
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