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
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