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Reuters has learned of Nippon Steel's desire to invest $14 billion in U.S. Steel

Reuters: Nippon Steel intends to invest $14 billion in U.S. Steel in case of purchase
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Photo: IZVESTIA/Eduard Kornienko
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The Japanese company Nippon Steel intends to invest $14 billion in U.S. Steel if the current administration of U.S. President Donald Trump approves the purchase of the company. This was reported on May 19 by the Reuters news agency, citing sources.

"Nippon Steel plans to invest $14 billion in U.S. Steel's operations, including up to $4 billion in the construction of a new steel mill, if the Trump administration approves its bid to buy the iconic American company," the agency said in a statement.

It is specified that of the total amount, $ 11 billion is planned to be invested in the infrastructure of the American company until 2028, while $ 1 billion will be used to build new facilities from scratch.

The publication also notes that the companies must complete a national security review of their planned deal by May 21, after which Trump will have 15 days to make a decision, and the deadlines may shift.

Former US President Joe Biden blocked the purchase of U.S. Steel by Nippon Steel on January 3. Then he said that his sacred duty as president of the United States is to guarantee the future strength of the American steel industry, and the ban on the deal protects the national security of the country. On the same day, U.S. Steel CEO David Burritt called the lockdown "shameful" and "corrupt."

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