September 15, 2010 - Steel Development Company and Anshan Iron and Steel Group Corporation (Ansteel) executes an investment operating agreement along with partners from the United States,
Italy, Japan, Germany and Canada.
Ansteel's investment equates to 14% of the equity portion of the total capital cost of $175 million estimated for the Amory Rebar project.
That total capital cost estimate includes equity, debt, working capital, and other sources of financing.
Therefore, the 14% investment Ansteel is making in SDCO relates only to equity, and has no relationship to the estimated $175 million total capital cost.
We are excited with the completion of this next and important step toward building and operating a state-of-the art bar mill in Amory, MS.
You may access the news release here,
Ansteel's Press Release.
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