"We're excited to support Hybar in bringing this transformational scrap metal recycling facility to market," said Vance Holtzman, senior vice president of KM&T Investments. 

"Moving forward, we see this as a mutually beneficial partnership, matching KM&T's capabilities with the Hybar and TPG teams’ proven track record in developing innovative projects that meet market needs." 

Hybar, led by steel industry financier and executive Dave Stickler, announced in early August that it had secured financing for the 630,000-ton mill, which is being built in Osceola, Ark., USA. Of the US$700 million raised, US$470 million will be spent to build the rebar mill. The remainder of the financing will be used to start up and operate the mill and pay certain debt service costs during construction.

The mill is expected to take 22 months to complete. 

Koch Minerals & Trading partnered with Stickler on development of Big River Steel, which is now owned by United States Steel Corporation. 

"We're proud to have the backing of Koch Minerals & Trading as part of a group of investors that see the potential promise of our innovative scrap metal recycling steel rebar technology," said Stickler.

Koch Metallics, a subsidiary of KM&T, will also provide metallics procurement services to Hybar and risk management services to Hybar customers.