Corpus Christi Lures Austrian Steelmaker to La Quinta Trade Gateway

Port Corpus Christi’s La Quinta Trade Gateway has been selected as the site for the development of a $700 million direct reduction facility by voestalpine, a steel making and processing group headquartered in Linz, Austria. The deal, announced March 13 in Corpus Christi, is subject to the successful completion and execution of all agreements with various regional and state of Texas entities.

The voestalpine Group processes and develops high-quality steel products. With 500 production and sales companies in more than 50 countries on five continents, the group is a leading partner to the automotive and domestic-appliance industries in Europe and to the oil and gas industries worldwide.

The Corpus Christi plant will produce high-quality DRI and HBI ("sponge iron”) from iron ore pellets. DRI and HBI are comparable to the highest quality scrap or pig iron, and constitute a pre-material for the production of crude steel. In contrast to pure coke-based blast furnaces, the direct reduction plant will use environmentally clean natural gas as the reducing agent. Additionally, environmental control technology will be implemented in order to ensure low-emission iron reduction.

Port Corpus Christi acquired the approximately 1,000 acre La Quinta property in 1998. Completion this summer by the U.S. Army Corps Engineer of a $55 million channel extension project will give the property 3,800 feet of fully permitted deepwater frontage, which the port plans to develop.

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