SunCoke Energy, Inc., the largest independent producer of high-quality coke for blast furnace steel production in the Americas, will invest $50 million in its manufacturing operation in Buchanan County, Virginia. The company will retain approximately 100 jobs.
SunCoke plans to refurbish the facility as well as perform upgrades to enable the production of foundry coke.
“SunCoke has been operating the Jewell Coke plant for more than 60 years, and we are happy to continue the good relationship we have had with state and local officials,” said Mike Rippey, President and CEO of SunCoke Energy, Inc. “We are thankful to the Commonwealth of Virginia for providing the VIP grant. As SunCoke works through its customer contracts and prepares to enter into the foundry coke market, Jewell Coke was the ideal facility for the deployment of capital for refurbishment and upgrade of ovens over the next three years.”
The Virginia Economic Development Partnership (VEDP) worked with Buchanan County and the Virginia Coalfield Economic Development Authority to secure the project for Virginia. Governor Northam approved a performance-based grant of $1.2 million from the Virginia Investment Performance Grant (VIP), an incentive that encourages continued capital investment by existing Virginia companies.
“SunCoke Energy has thrived in Southwest Virginia for more than half a century, and this major investment will ensure the company’s longevity in our Commonwealth for decades to come,” said Governor Ralph Northam. “This project is an important win for Buchanan County, providing a much-needed boost to the coalfields’ economy and serving as a strong vote of confidence in the region and its skilled workforce.”
SunCoke Energy, Inc. supplies high-quality coke to the integrated steel industry under long-term, take-or-pay contracts that pass through commodity and certain operating costs to customers. The company utilizes an innovative heat-recovery cokemaking technology that captures excess heat for steam or electrical power generation.
“The company’s investment in Buchanan County will boost and diversify Southwest Virginia’s manufacturing sector, which remains a pillar of the economy thanks to major industry players like SunCoke,” noted Secretary of Commerce and Trade Brian Ball.
SunCoke’s logistics terminals have the collective capacity to mix and transload more than 40 million tons of material each year, and are strategically located to reach Gulf Coast, East Coast, Great Lakes, and international ports. The company has more than 55 years of cokemaking experience serving the integrated steel industry, with facilities located in Illinois, Indiana, Ohio, Virginia, and Brazil.