Kentucky steel plant to expand with $244M investment

A Kentucky stainless steel plant is spending $244 million to expand its facility in Carroll County, one of several economic development projects announced by Gov. Andy Beshear this week.

North American Stainless will add space to its 4 million square foot plant and add 70 new jobs, Beshear said at a Thursday news conference. The company handles about half the stainless steel made in North American, according to its CEO, Cristobal Fuentes.

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Another company, LioChem e-Materials, will renovate a building in Simpson County with a $104 million investment, the governor said. The new plant will support electric vehicle battery production and create 141 jobs, according to a news release from the governor’s office.

The plant will produce a liquid dispersion of carbon nanotubes that improves the performance of lithium-ion batteries used in electric vehicles.

The governor also announced the expansion of Carter Lumber Co. in Bowling Green. The $8 million investment will add 86 jobs.