September 8, 2017 / 11:24 AM / a year ago

Voestalpine's Texas plant reopens after hurricane shutdown

VIENNA, Sept 8 (Reuters) - Austrian specialty steelmaker Voestalpine said on Friday its direct reduction plant in Texas had fully resumed operation after it was shut down for several days due to hurricane Harvey.

The $1 billion plant in Corpus Christi, Voestalpine’s largest foreign investment so far, opened in October 2016 and is set to produce 2 million tonnes of high-quality hot briquetted iron, or sponge iron, a pre-material used in steel production.

The damage to the plant was only slight and would mainly be covered by insurance, Voestalpine said, adding that its full-year earnings would not be significantly affected. (Reporting by Kirsti Knolle; editing by Francois Murphy)

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