Welland, Ontario-based energy tubulars manufacturer Lakeside Steel announced Tuesday that it has set up a five-year, $22 million credit facility to fund its oil country tubular goods (OCTG) mill currently under construction in Alabama.
Lakeside plans to draw from the $22 million loan within the next five months. Since early 2011, Lakeside has secured a total of $42 million in credit for the steel mill's construction.