.jpg?lang=en-US&ext=.jpg)
.gif?width=220&height=200&mediaprotectionhash=374c6b9a31f2b2fbfc7937391034efb46fd57feba997b9ad2ae9a0bd3d48329d&ext=.gif)
Nippon Steel Enters Joint Venture Agreement With Nakayama Steel Works
12/01/2025 - Nippon Steel Corp. announced it has entered into a joint venture agreement with Nakayama Steel Works Ltd. to form a joint venture company to finance and build an electric arc furnace (EAF) steel mill in Japan.
Nippon said the creation of the joint venture company follows a basic agreement signed in May between the two companies. Through the agreement, Nakayama will operate the mill and own a 51% stake while Nippon will purchase a portion of the products and own a 49% stake.
“Through the business alliance, Nippon Steel will further expand its competitive product lineup, strengthen its ability to meet the diverse needs of its customers and promote the capture of demand in various domestic sectors, including the construction sector,” said a press release from Nippon.
The companies estimate building and equipping the mill could cost up to 55.7 billion yen. They will build the new EAF and additional building within the premises of Nakayama Steel’s Funamachi Plant and lease them to Nakayama Steel.
Formation of the joint venture company, tentatively named NN Steel LLC, is planned for March 2026. Start of construction work for the new EAF is planned for November 2026 with operation to begin in 2030 or later, the companies said.
“Through the business alliance, Nippon Steel will further expand its competitive product lineup, strengthen its ability to meet the diverse needs of its customers and promote the capture of demand in various domestic sectors, including the construction sector,” said a press release from Nippon.
The companies estimate building and equipping the mill could cost up to 55.7 billion yen. They will build the new EAF and additional building within the premises of Nakayama Steel’s Funamachi Plant and lease them to Nakayama Steel.
Formation of the joint venture company, tentatively named NN Steel LLC, is planned for March 2026. Start of construction work for the new EAF is planned for November 2026 with operation to begin in 2030 or later, the companies said.
