$650M Steel Mill Project on Track
Posted on: Wednesday, 20 July 2005, 09:01 CDT
COLUMBUS - Officials say the recent vote by the Lowndes County Board of Supervisors approving the purchase 1,550-acres brings a planned $650 million steel mill project a step closer to reality.
"This is good because I've already got the deposit slips made out," said Charleigh Ford of the Columbus-Lowndes Development Links as he accepted a check this past Friday for $6.5 million from board President Harry Sanders.
Ford, vice president of economic development for the organization, requested the money - coming from a $12 million U.S. Department of Agriculture Rural Development loan - be transferred to the Lowndes County Economic Development District to purchase the so- called megasite from land owners.
The county intends to lease most of the megasite to SteelCorr. The start-up steel company plans to build a steel mill on 1,380 acres just east of the Golden Triangle Regional Airport.
The remainder of the money will be used for site preparation and infrastructure improvements, officials said.
The SteelCorr deal is expected to close later this month, bringing at least 450 jobs with annual salaries of as much as $70,000. Officials also expect about 1,000 additional jobs through related plants and increased transportation and shipping services.
SteelCorr will turn scrap iron into 1.5 million tons of high- grade steel a year for the automotive industry.
Source: Commercial Appeal, The
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