TOKYO, July 19 (Reuters) - Japanese steelmaker Kyoei

Steel ( KYOIF ) plans to invest about $230 million to build a new

steel factory and upgrade existing rolling mills in the United

States, it said on Friday.

The new production capacity at the company's Texas-based

U.S. unit, Vinton Steel, should be 300,000 tons per year of

reinforced steel bars and steel balls, it said in a statement.

Construction is set to start in end-2024, with the target

start of operations in January 2027, it added.