SteelCorr seeks go-ahead for Mississippi plant
American steel company SteelCorr Inc. is seeking support from the Mississippi government to build a high quality flat-rolled steel mill in Columbus, Mississippi. The mill would produce products for use by twelve automotive manufacturing plants in the southeastern US. SteelCorr's plan calls for the construction of a 1.5 million ton per annum mini-mill to produce automotive grade and other high-value steel alloys. GE Capital will supply the bulk of the project's funding. The Mississippi Development Authority and taxpayers of Mississippi will also be called upon to contribute to the investment once it is approved. SteelCorr still needs to secure two environmental permits from the Department of Environmental Quality before beginning the project. On the other hand, North Carolina-based Nucor seems disturbed by the idea of a new plant in the southeastern US. Research that the University of Maryland prepared for Nucor indicates that the new plant would not be able to break even.