Commercial Metals Co. to build environmentally sustainable steel mill in Oklahoma

Los Angeles-based National New Markets Fund LLC has closed $21 million in New Markets Tax Credit (NMTC) allocation that will enable Commercial Metals Co. (CMC), Irving, Texas, to build an environmentally sustainable steel manufacturing facility in Durant, Okla.

When completed in late 2017, the micro-mill will use an uninterrupted production line process called "continuous-continuous" powered by a highly efficient electric arc furnace (EAF). The result will be a clean and green steel mill capable of producing 380,000 tons of rebar from recycled pre- and post-consumer scrap, reports the company.

The company anticipates the facility will reduce CO2 emissions by at least 58 percent compared to a traditional iron ore-based steel plant. Gases produced in the steelmaking process will be used to preheat scrap, which in turn will reduce electricity consumption. The mill also will employ advanced air filtering and recycling technology to enhance recovery and reuse of common steelmaking byproducts. In addition, water used in the steelmaking process will be recycled to reduce discharge.

The new mill is expected to create 300 jobs. The site is located within a multicounty area designated as a federal Promise Zone for the Choctaw Nation.

CMC and its subsidiaries manufacture, recycle, and market steel and metal products, related materials, and services.