SAN ANTONIO — The voestalpine Group will break ground this week on a $740 million plant at the Port of Corpus Christi.
The plant on the north shore of Corpus Christi Bay will use iron ore to make briquettes that will be shipped to European auto plants. Hot-briquetted iron, or HBI, is a primary material for raw steel making.
The voestalpine manufacturing plant will be powered by natural gas and is part of a wave of industrial investment at the port. The emergence of a cheap, reliable source of natural gas in the Eagle Ford Shale has drawn billions of dollars in projects to the Corpus Christi area.
The voestalpine plant will create about 800 construction jobs and 150 full-time jobs, the company said.It takes a village.
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Ukraine. A non-issue?
[Later: several companies traded at new 52-week highs: BRK-B; PSX, SRE.] Futures for Tuesday show holding those gains today.
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Equities up strong in early morning trading; oil up slightly.
XOM, COP, CVX: up strong; at or near 52-week highs
Bakken operators: mixed; CLR up nicely; others down slightly
ENB, EPD: up slightly
MDU: flat to down slightly
BRK-B: down slightly
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