Osceola in Running for Massive New Steel Mill - KAIT Jonesboro, AR - Region 8 News, weather, sports

Blytheville, AR

Osceola in Running for Massive New Steel Mill

AUGUST 17, 2004 - Posted at 7:30 a.m. CDT

 

BLYTHEVILLE, AR - The construction of a new $700 million steel mill on the Mississippi River that would employ 450 people could be announced this fall if financing is complete.

The Arkansas Democrat-Gazette reports that SteelCorr chairman John Correnti says the company is considering Osceola in Mississippi County, as well as a site in southern Louisiana and a third location in southern Missouri for the mill.

Correnti said an electricity contract and financing must be worked out before a decision can be made.  He said the electricity costs to run the mill would be in the millions of dollars per month.

Part of the mill would open 16 to 18 months after a site is announced, which he said he hoped would be in late September or early October.

SteelCorr is a new company with investors including billionaire Carl Icahn, GE Capital, the Bank of Austria and "other European lending institutions."

Correnti owns a home in Blytheville and was previously vice president and general manager for the Nucor-Yamato mill near Blytheville.

(The Associated Press contributed to this report.)

  • Region 8 News</span><a class="customMoreLink" href="/Global/category.asp?C=4391" target="_top">More >></a>Region 8 NewsMore>>

  • breaking

    Paragould car dealership destroyed by fire

    Paragould car dealership destroyed by fire

    Saturday, March 25 2017 9:43 PM EDT2017-03-26 01:43:16 GMT
    Saturday, March 25 2017 9:45 PM EDT2017-03-26 01:45:04 GMT
    (Source: Jacob Arnett)(Source: Jacob Arnett)

    A used car dealership in Paragould was destroyed by fire Saturday night.

    A used car dealership in Paragould was destroyed by fire Saturday night.

  • Region 8 man killed in early-morning crash

    Region 8 man killed in early-morning crash

    Saturday, March 25 2017 8:07 PM EDT2017-03-26 00:07:18 GMT
    Saturday, March 25 2017 9:27 PM EDT2017-03-26 01:27:16 GMT
    (Source: AP Graphics Bank)(Source: AP Graphics Bank)

    A Region 8 man died in a car crash early Friday morning.

    A Region 8 man died in a car crash early Friday morning.

  • Cut-A-Thon for Christopher held

    Cut-A-Thon for Christopher held

    Friday, March 24 2017 3:54 PM EDT2017-03-24 19:54:00 GMT
    Saturday, March 25 2017 8:00 PM EDT2017-03-26 00:00:27 GMT
    Christopher Copeland needs a liver transplant at UAMS to survive. (Source: Christopher Copeland)Christopher Copeland needs a liver transplant at UAMS to survive. (Source: Christopher Copeland)

    Former Jonesboro hairdresser in desperate need of liver transplant.

    Former Jonesboro hairdresser in desperate need of liver transplant.

Powered by Frankly