According to the newspaper, the investment group believes there is a place for the envisioned US$240 million mill, owing to the strength of the Florida construction market.

"The last two decades have seen a steady decline in U.S. steel production," the group writes in a proposal. "However, recent political pressure, coupled with urgent need to revitalize the country's aging infrastructure system, have resulted in renewed calls for the production of U.S. steel."

The Miami Herald has the full story here. 

However, the group isn’t the only one to see an opportunity for a Florida mill that makes construction steel. In March, Nucor Corp. said it will build a US$240 million rebar micro-mill in the central part of the state.