“We examined a total of 17 sites in eight countries for this project, the largest foreign investment in the Group’s history to date. In the end, Texas was the most convincing in terms of all the key criteria, including logistics, energy supply, a well-educated workforce, and the political environment,” explained Wolfgang Eder, Chairman of the Management Board of voestalpine AG, and head of voestalpine’s Steel Division. This will provide the Austrian steel production sites in Linz and Donawitz with access to cost-efficient and environmentally-friendly HBI and DRI pre-materials, ensuring their competitiveness over the long-term. The site is strategically located on Corpus Christi Bay, covers an area of almost two square kilometers (500 acres), and has direct access to the sea. The final, formal decision to implement the project is scheduled to take place before the summer, assuming that the detailed negotiations currently being undertaken with the local authorities have been successfully concluded by that time.