Discussions are continuing with a view to deciding the financing sources and the Mississippi location for the proposed $120-million “Project Green.”.
The plant, which will employ approximately 100 people, was originally slated to be built in Lowndes County, Mississippi, near the SeverCorr plant site. However, steel banking and investment firm Global Principal Partners (GPP) – which is the negotiating agent between Project Green and government officials and which also has SeverCorr as a client - announced late last week that it will look elsewhere for a new location as it is not satisfied with the incentives provided by Lowndes County for another GPP project known as the Mississippi Industrial Steel Technology Center.
Project Green officials are now considering a location in Noxubee County, just north of Lowndes County. Late last week, the local authorities in Noxubee County responded with interest to a proposal from Project Green.
GPP has not yet disclosed the company behind the proposed
rebar plant. Despite speculation that the company in question may be SeverCorr, both GPP and SeverCorr have issued denials in this respect.