County approves loan for steel plant upgrades
by Associated Press
Published: June 20,2011
Tags: county government, economic development, industrial parks, loans, manufacturing, steel
LOWNDES COUNTY — Lowndes County has approved a $250,000 loan for Mississippi Steel Processing and New Process Steel to continue infrastructure improvements at the county’s industrial park.
The county received a Community Development Block Grant from the Mississippi Development Authority for roads, water, sewer and rail projects.
The $250,000 will be borrowed from the state to continue the work. It will be repaid by MSP, which is located on the Severstal campus in the industrial park.
Since opening earlier this year, MSP has rolled along announcing four future expansions and jobs.
The steel processor cuts the materials to size for customers.
The expansions will be for railroad, storage and a second slitting line in the MSP facility.
Source: AP
![[Print]](http://msbusiness.com/wp-content/plugins/tdc-sociable-toolbar/print.png)
![[Email]](http://msbusiness.com/wp-content/plugins/tdc-sociable-toolbar/email_2.png)
![[RSS Feed]](http://msbusiness.com/wp-content/plugins/tdc-sociable-toolbar/rssfeed.png)
![[del.icio.us]](http://msbusiness.com/wp-content/plugins/tdc-sociable-toolbar/delicious.png)
![[Digg]](http://msbusiness.com/wp-content/plugins/tdc-sociable-toolbar/digg.png)
![[Facebook]](http://msbusiness.com/wp-content/plugins/tdc-sociable-toolbar/facebook.png)
To sign up for Mississippi Business Daily Updates, click here.
Recent Posts
- FNC index shows U.S. home prices up for first time since last July
- Appeals Court to hear lawsuits over drawing county district lines
- SBA honors mayor for helping community recover from tornado
- USDA, partners awards $20M-plus for habitat restoration along river
- C Spire Wireless gives update on 4G LTE network build-out
- Eutaw Construction suing Port Commission over contract
- Hancock Fabrics losses mount; faces many challenges
- Ex-cancer clinic officer manager pleads guilty to health care fraud
POST A COMMENT