In a statement, Stickler said his new company, Highbar LLC, is preparing to build the first of two rebar mini-mills on a greenfield site in northeastern Arkansas. The mill will sit on a 600-acre parcel just outside Osceola, home of Big River, and will include space for an expanded Mississippi River port facility, a direct Class 1 railroad connection, and a planned adjacent solar installation.

Groundbreaking is to take place in the second quarter of 2023.

“My team and I have had great success investing billions of dollars in Arkansas over the past eight years,” said Stickler, Highbar’s chief executive officer and senior managing partner of metals and mining investment firm Global Principal Partners.

“Arkansas is a great place to conduct business, especially steel business,” Stickler said. “I am pleased that after conducting a multi-state site search that we are able to make this announcement today.”

Highbar said it will work with SMS group on the mills, which will be designed as top-tier facilities in terms of energy and water efficiency, labor productivity, and carbon emission reductions.

The company said it has already achieved significant market acceptance with over 20% of its planned output pre-sold under long-term agreements.