LITTLE ROCK — Steel manufacturer Nucor said Tuesday it will spend about $230 million to build an additional mill and add about 1oo jobs in Northeast Arkansas.

Nucor’s operations in Blytheville currently employ 650 people. The company said the new jobs will have an annual salary of $80,000.

The company said the new mill, expected to be operational in about two years, will allow it to produce new products. It also said locating the new mill near its existing operations in Arkansas will give it a transportation advantage over competitors outside the region that currently supply steel for the U.S. market and the growing Mexican market.

“This specialty cold mill complex supports our strategy of moving up the value chain and growing sales to the automotive market,” John Ferriola, chairman, CEO and president of Nucor said in a statement. “It will bring value to all of Nucor’s sheet mills by expanding our capability to produce advanced high-strength steels and broadening the automotive capability of our galvanized lines at Nucor Steel Decatur and Nucor Steel Berkeley.”