# California Steel Mill Project Cost Rises to About $700 Million

By John Kim

Canonical URL: https://www.tokenpost.com/news/business/33183
Published: 2026-10-16T10:50:05.000Z
Updated: 2026-10-16T10:50:05.000Z
Section: Business

> The project was on schedule as of Oct. 12, and overall job creation is projected at nearly 700.

Pacific Steel Group's Mojave Micro Mill in Kern County is expected to cost about $700 million, up from a previously reported $540 million, as the project aims to expand California's in-state steel supply.

The project was on schedule as of Oct. 12. Work began in March 2025, and the mill is expected to be California's first new steel mill in more than 50 years.

The plant is designed to produce rebar. The project aims to add in-state steel supply for public infrastructure, including roads, bridges and hospitals.

In 2024, California granted Pacific Steel Group a $30 million tax credit under its California Competes program after the company committed to invest more than $540 million and add nearly 450 jobs during the mill's first five years. Overall job creation is projected at nearly 700.