The Japanese Nippon Steel is planning to invest 14 billion dollars, equivalent to approximately 135 billion kronor, in the steel company US Steel – provided US President Donald Trump approves a merger of the companies, reports Reuters.
Nippon Steel has previously been stopped from buying US Steel by Donald Trump and former President Joe Biden, citing national security interests.
The deadline for a new security review of Nippon Steel's expires.
If Donald Trump gives his approval, Nippon Steel's investment plan includes, among other things, a steel plant for four billion dollars.
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