Digital enablement of a steel plant from the concept stage to operations has the capacity to transform how we conceive, design, build and operate steel plants. This can change the economics of steel making and create a durable competitive advantage for the steel firm. Digital enablement and transformation spanning across the capital investment cycle and the on-going plant operations can improve the EBITDA, productivity and the return on capital substantially. However, this requires careful consideration to the application of multi-dimensional expertise spanning investment economics, the economics of operations, engineering, metallurgy, modeling science, sensor technologies, machine learning and AI and large-scale computer simulations. This paper considers some of the key thrust areas and the economics of digital transformation for steel plants from concept to the operations stage.