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"Going abroad" and how to make it happen - People's Daily Online - 0 views

  • Now is the opportune time for China to accelerate its "going abroad" strategy and expand foreign direct investment to take advantage of the opportunity to establish a new structure for its diversified assets portfolio. This would include the simultaneous development of domestic and foreign assets, physical and virtual assets, as well as upstream and downstream assets.
  • advanced technologie
  • Secondly, China should invest in and develop natural resource projects abroad that can address its lack of resources.
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  • In recent years, Chinese enterprises have been accelerating steps to make use of both domestic and international resources on a mutual benefit and win-win basis. Not only have large-sized state-owned enterprises and joint-stock enterprises initiated investments in resource development projects in Africa, some small and medium-sized private enterprises have also started to engage in high-risk investment projects, including early-stage mineral explorations in regions such as Southeast Asia, Africa and Latin America.
  • , involves infrastructure,
  • comprehensive development of mineral resource
  • ople's Daily Online and the chief economist under the National Development and Reform Commission (NDRC)
Yadkin River

Whose water is it anyway!? - 0 views

  • COALITION OF CITIZENS, POLITICIANS AND ENVIRONMENTALISTS BATTLE ALCOA TO RETURN THE YADKIN RIVER TO THE PEOPLE
  • “The conservation of our natural resources and their proper use constitute the fundamental problem which underlies almost every other problem of our national life,” Roosevelt told Congress in 1907.
  • Naujoks referred to Teddy Roosevelt’s well known opposition to corporate monopolies and his firm belief the nation’s natural resources belong to the people. Naujoks cited Roosevelt’s philosophy to highlight the disparity between the legendary president’s philosophy and FERC’s policies
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  • Gov. Beverly Perdue officially came on board with the Yadkin River Coalition — a group of local businessmen, citizens and politicians who oppose Alcoa’s re-licensing efforts — last September and her influence has proved invaluable to the cause.
  • The governor’s office filed papers with the FERC “seeking return of the right to plan the use of the Yadkin River flows and the Yadkin hydroelectric project for the benefit of the people of North Carolina,” according to a press release
  • Recapturing the water rights to the Yadkin is essential to the health and well being of the citizens of the nearly 25 counties that comprise the Yadkin River Basin, Perdue stated.
  • “Given the Yadkin River’s broad impact on the state, we believe strongly that the state is the most appropriate body to plan use of this invaluable natural resource, to help assure the region’s municipal water supply and quality and to facilitate future growth and development,” Perdue stated.
  • “Given the Yadkin River’s broad impact on the state, we believe strongly that the state is the most appropriate body to plan use of this invaluable natural resource, to help assure the region’s municipal water supply and quality and to facilitate future growth and development,” Perdue stated.
  • The Badin Works aluminum smelting plant did bring 1,000 jobs to the area after Alcoa applied for its water rights license in 1958. But Alcoa, a multi-billion dollar corporation and the world’s largest producer of aluminum, ceased operations at the plant in 2007. The plant employed only 377 people when it shut down, said Alcoa spokesman Gene Ellis.
  • One of the first legislators to take their side was NC Sen. Fletcher L. Hartsell Jr., who represents Cabarrus and Iredell counties. Hartsell came on board with the Yadkin River Coalition two years ago after meeting with Dick, Jim Nance, a former board member of the NC Department of Transportation, and Stanly County Commissioner Lindsey Dunevant at his legislative offices in Raleigh.
  • But after he studied the Federal Power Act, he became fascinated with the issue of Alcoa attempting to maintain its monopoly over the 38-mile stretch of the Yadkin. Convinced of the appropriateness of the coalition’s cause, Hartsell signed on and recruited fellow Republican state senator, Stan Bingham.
  • “As far as I’m concerned, Alcoa got the gold mine and we got the shaft,” Bingham said
  • “The little town of Denton is having to pay [Alcoa] for the use of the water coming down the Yadkin for drinking,” Bingham said. “The way that’s calculated is they charge because it’s a loss of power generation…. This whole thing was done many, many years ago, and a lot of people didn’t think about the people they were dealing with at the time.”
  • “Alcoa and others keep talking about it being a ‘taking’ [of property],” Hartsell said. “It’s not a taking; it’s not even close to it. All we’re asking Alcoa to do is to fulfill the obligations that were identified in 1958 that they agreed to.”
  • “They acknowledged when the license was up, they no longer had the right to use the property,” Hartsell explained. “We’re saying there needs to be an equivalency for the run of our river, and when I say ‘our,’ I mean everybody’s. It’s not a private entity. The feds and the state have had control of the run of the rivers since the beginning of the republic.” The language of the Federal Power Act includes a stipulation that the controlling entity, in this case Alcoa, must estimate the recapture value of the resource in the event it must surrender the rights to that resource, Hartsell said. “There is a statutory formula for how you calculate recapture and Alcoa computed it to be $24.2 million in 2006,” Hartsell said.
  • Yadkin River Trust Bil
  • The bill clearly outlines the three primary issues at stake — A) who controls the waters of the Yadkin for the next 50 years; B) the environmental issue related to the condition or quality of the water itself and the immediate environs; and C) the use of the electricity generated by the run of the river.
  • “[Alcoa] signed an agreement. We’re just asking them to live up to their own word,” he said. “The state of North Carolina intervened 50 years ago on Alcoa’s behalf to assist them to get a 50-year license and operate the plant at Badin, but conditions have changed dramatically. If they’re going to use it, what is the return to the people of the state on the state’s investment in the raw material, which is the water? That water is owned by the people.”
  • Alcoa’s re-licensing application represents “the mother of all incentives,” Hartsell said. “They want the state to concede they should have $1 billion in benefit over the next 50 years and provide nothing to the state,” he said.
  • “Why should we give it away?” Hartsell continued. “From an economic development perspective, energy is the major issue associated with job growth and development regardless of the industry.”
  • He pointed out that Alcoa is capitalizing on the hydroelectric energy generated by the Yadkin by selling electricity “on the grid” rather than investing in the local communities.
  • “We’re dealing with John Dillinger and Al Capone,” Bingham said. “Alcoa reaps [millions] in profits each year and North Carolina gets zilch.”
  • An environmental study commissioned by Stanly County and conducted by professor John Rodgers of Clemson University last year established a connection between contami nation of polychlorinated biphenyls, or PCBs, in fish and soil samples taken from Badin Lake near Alcoa’s Badin Works operation. Rodgers’ findings led the Yadkin River Coalition to appeal the waterquality certification issued by the NC Department of Environment and Natural Resources, or DENR. Administrative Law Judge Joe Webster granted an injunction on May 26 prohibiting DENR from issuing a 401 Water Quality Certification to Alcoa until the full appeal is heard.
  • The state issued a fish-consumption advisory for Badin Lake between Stanly and Montgomery counties last February due to elevated levels of PCBs found in largemouth bass and catfish
  • Alcoa attempted to block the advisory by filing a legal appeal. The company claimed that the state “changed its stated evaluation criteria after the study was complete and held Badin Lake to a different standard than the other lakes and rivers in North Carolina,” according to a posting on a company website.
  • Bingham said Alcoa’s objection to the posting of the fish-consumption advisory speaks volumes about their concern for the people who swim and fish at Badin Lake.
  • “It just tells me how they do business,” Bingham said. “They fought the fish-advisory signs; they say we’re taking their property and we have no rights to the water. We’re stuck with the bastards, at least for the moment, but I feel good about the direction of the fight we’re taking on in the future.”
  • Naujoks said he’s concerned about the high concentration of PCBs in the landfills and dumping sites near Alcoa’s four hydroelectric dams. Naujoks said Alcoa has not been entirely forthcoming about the number of waste dumping sites in and around their facilities.
  • They’re not showing us where all the buried bodies are found. As we start digging down through the layers, we’re going to find much more.”
  • “Alcoa knows they can’t hide these dumping sites,” Naujoks said
  • A PROMISING FUTURE Bingham said once Perdue joined the Yadkin River Coalition, it changed everything. “It’s been wonderful; it’s been extremely important,” he said. “We were facing a multi-billion-dollar corporation, but when the governor lis tened to our pleas, they began to take this extremely seriously. They realized they’re in for a fight.”
  • Bingham said the coalition will never quit until the Yadkin River is returned to the people of North Carolina.
  • “Our legal case could take years to resolve, but the campaign to support the legislation through the coalition and FERC re-licensing could be decided within the next year,” he said. “We will work on a targeted campaign to unify and strengthen grassroots efforts of local governments, public interest organizations, businesses and individuals to reclaim the waters of the Yadkin River to benefit the public interest.”
  • Bingham said he can see a day in the near future when the Yadkin is returned to the people and the economy of the 25 counties in the Yadkin River Basin begin to flourish.
  • The NC Department of Health and Human Services issued a fish-consumption advisory last February on Badin Lake after high levels of PCBs were found in fish tissue samples. Alcoa unsuccessfully filed a legal challenge to the advisory last April. The advisory remains in effect.
  • We can offer industry power at a reduced rate and that plays a big part in manufacturing,” he said. “That would be a tremendous incentive. For years, we’ve stood by the sidelines and watched industries go elsewhere. We don’t have anything to offer industry
Yadkin River

Should the US Government Allow a Chinese Steel Mill to Invest in Steel Technology They ... - 1 views

  • [Ed. Note According to a May 24 AMM post, the investment will also go toward building four re-bar plants (not one) and one flat rolled product mini-mill, all based in the US)
  • Dive under the surface a bit, and the investment by Anshan raises serious concerns not only among steel producers but also for any US manufacturing organization in general.
  • American national security infrastructure projects’ through the investment.”
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  • Let’s examine rebar consumption. First, we’ll examine apparent consumption (apparent consumption is net domestic consumption plus imports) and then we’ll calculate capacity utilization: 2007 – 9.824m short tons 2008 – 8.374 m short tons 2009 – 5.359 m short tons 2010 – based on current 2010 run rates, the industry will ship 5.1m short tons If you compare the peak of the market (2007) with today, the US rebar industry operates at a 62% capacity utilization rate; the overall steel industry operates at a 72.9% capacity utilization rate as of June 26, 2010. Two rebar facilities are currently shut down, one in New Jersey and one in Oklahoma. Many of the other facilities that run both mixed merchant/rebar mills are also running at less than capacity If we were to develop a map of the United States and mark US rebar plant locations by geography (assuming each mill can ship up to a 300 mile
  • First, the last time the US steel market was at 120m tons of consumption was in 2006. The 2009 estimated steel consumption was 59m tons, data courtesy of the USGS. Prior to 2006, the only other year in which apparent steel consumption met or exceeded 120m tons was in 2005. The rest of this past decade, steel consumption hovered in the lower 100m ton range (e.g. less than 110m tons)
  • the question of technology transfer ought to be considered heavily
  • –Lisa Reisman
  • we’d see a glut of capacity in the US Southeast. The only argument one could make for building a rebar mill may be to move it somewhere out West, but even that may be a tenuous argument
  • And we all know that US construction markets (the biggest application for rebar products) remain in troubled waters. Take a look at annual expenditures for both commercial and residential construction here. Incidentally, 2010 data is tracking 8% below 2009 numbers. In other words, rebar capacity utilization rates are even less than overall steel industry capacity utilization rates
  • We can’t see the business case to add rebar capacity in the US. Clearly the PE firm involved in Steel Development Corp is banking on the management team.
  • If our politicians think this is about jobs, we can assure them that this may be a short term win (in terms of new jobs in Mississippi) – but they will result in a net loss for US manufacturing, as the current US domestic rebar industry has already laid off thousands of workers. And by giving this technology to the Chinese, well, we know what that will mean long term….
Yadkin River

Steel firm wants to diversify overseas - China.org.cn - 0 views

  • The company and the US-based Steel Development Company signed a deal in September last year to jointly build a steel rebar project in the US market. Total investment in the Mississippi steel rebar project is $168 million, with Anshan Steel taking a 14-percent share. Anshan Iron also plans to acquire nickel and chromium resources through overseas mergers or purchases, as the company considers building a stainless steel and specialty steel business to further diversify, Zhang said. Wang Min, Party chief of Northeast China's Liaoning province, where Anshan Steel is located, said the merger between Anshan Iron and Benxi Iron and Steel Group will make progress soon.
  •  
    The company and the US-based Steel Development Company signed a deal in September last year to jointly build a steel rebar project in the US market. Total investment in the Mississippi steel rebar project is $168 million, with Anshan Steel taking a 14-percent share. Anshan Iron also plans to acquire nickel and chromium resources through overseas mergers or purchases, as the company considers building a stainless steel and specialty steel business to further diversify, Zhang said. Wang Min, Party chief of Northeast China's Liaoning province, where Anshan Steel is located, said the merger between Anshan Iron and Benxi Iron and Steel Group will make progress soon. Anshan Steel announced in 2005 that it agreed to acquire Benxi Steel to form Anben Iron and Steel Group; however, the two firms have yet to transfer their operating assets to the new entity. The two companies' financial, sales and purchasing departments haven't been integrated. The move is a part of Anshan Steel's bid to reach an annual production capacity of 60 million tons in the next five years and to become one of the world's top five steelmakers by 2015.
Yadkin River

China's 'go abroad' policy produces effects - People's Daily Online - 0 views

  • Dong Songgen, vice chairman of the China Council for the Promotion of International Trade, said that Chinese enterprises' cumulative outbound direct investments stood at 260 billion U.S. dollars at the end of 2010. The pace of Chinese enterprises' "going abroad" will be further accelerated during the 12th Five-Year Plan period. According to a recent report released by the U.S.-based Asia Society, China's gross overseas investments are expected to reach 2 trillion U.S. dollars by 2020.
  • Data shows that Chinese enterprises have established 13,000 enterprises in 177 countries and regions.
  • In terms of countries and regions, the United States is still the largest investment destination for Chinese enterprises, with 28 percent of Chinese enterprises surveyed planning to invest in the United States
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  • The number of China's enterprises that invest in foreign countries through mergers and acquisitions is also growing, and their investment accounts for 22 percent and 15 percent of the total in developed countries and in developing countries, respectively
  • In addition, more than 30 percent of the enterprises have adopted the mode of founding a joint venture.
  • Xu said that the foreign investment of China's enterprises cover various kinds of industries. Of them, the industry in which China invests in most heavily is the manufacturing industry, and the proportion of China's foreign investment in this industry to total foreign investment is 78 percent in developed countries and 71 percent in developing countries.
  • Ma Yu said that the main part of China's foreign investment is still done by state-owned enterprises currently. According to statistics, the foreign investment from state-owned assets plays an absolutely dominant role.
Yadkin River

Alcoa, CPI Announce Letter Of Intent To Develop Joint Venture Producing High End Alumin... - 0 views

  • CPI President Lu Qizhou added, “I am excited to see our partnership taking a further step. Deeper cooperation in high-end aluminum fabrication will definitely broaden the space for both companies' development and accelerate our
  • common endeavor to move forward.”
  • About CPI China Power Investment Corporation (CPI) is one of the five Gencos in China and a comprehensive energy group integrating industries of power, coal, aluminum, railway and port. It is the only enterprise in China possessing assets in hydropower, thermal power, nuclear power and new energies at the same time, and is one of the three companies in China that are authorized to develop, build and operate nuclear power plants. By the end of 2010, CPI had installed capacity of 70.72GW, of which 17.74GW was hydropower, which ranked first among the five Gencos. Clean energy accounted for 30% of the total portfolio, the highest among the five Gencos. Meanwhile, CPI had coal production capacity of 72.75 million tons and aluminum production capacity of 2.08 million tons.
Yadkin River

Hydroelectricity: Definition from Answers.com - 0 views

  • Barnes, Marla. "Tracking the Pioneers of Hydroelectricity." Hydro Review 16 (1997): 46.Federal Energy Regulatory Commission. Hydroelectric Power Resources of the United States: Developed and Undeveloped. Washington, 1 January 1992.———. Report on Hydroelectric Licensing Policies, Procedures, and Regulations: Comprehensive Review and Recommendations Pursuant to Section 603 of the Energy Act of 2000. Washington, May 2001.Foundation for Water and Energy Education. Following Nature's Current: Hydroelectric Power in the Northwest. Salem, Oregon, 1999.Idaho National Engineering Laboratory and United States Department of Energy—Idaho Operations Office. Hydroelectric Power Industry Economic Benefit Assessment. DOE/ID-10565.Idaho Falls, November 1996.———. Hydropower Resources at Risk: The Status of Hydropower Regulation and Development 1997. DOE/ID-10603.Idaho Falls, September 1997.United States Department of Energy, Energy Information Administration. Annual Energy Review 2000. DOE/EIA-0384 (2000).Washington, August 2001.United States Department of Energy—Idaho Operations Office. Hydropower: Partnership with the Environment. 01-GA50627. Idaho Falls, June 2001.
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Port Dispatch | Troutdale Reynolds Industrial Park Receives Top National Brownfield Red... - 0 views

    • Yadkin River
       
      Alcoa Sold the property ins 2004 following Clean up - Jobs were created by "The Port - Economic Development" as part of a long range re-development plan. Alcoa did NOT BRING the Jobs. They were responsible for Clean Up of an inherited properly through acquisition . 
  • Port commissioners voted in 2004 to purchase the 700-acre site in Troutdale, which represented the largest remaining zoned industrial property within the urban growth boundary. It was the home of an aluminum smelter for 60 years, but it had been idled since the summer of 2002. The property was a Superfund site, and remediation to industrial standards was completed by Alcoa in 2006. The redevelopment effort has involved the U.S. Environmental Protection Agency, the Oregon Department of Environmental Quality, Business Oregon and the Cities of Troutdale and Fairview
Yadkin River

U.S. Steel Industry Says Get Ready, Chinese Government Companies Are Coming To America - 0 views

  • "In essence, after creating, developing and nurturing massive 'national champions,' the Chinese government is now strategically deploying these entities overseas to execute the government's agenda: to acquire natural resources and raw materials, obtain technology and expertise, gain entry into new markets and increase China's economic and political influence on a global scale."
  • Such ownership is deemed illegal under the World Trade Organization rules. Yet China has defied them. The Chinese government owns most of the shares of the major steel producers. It is involved in making the business decisions within virtually all of China's major steel companies.
  • The Chinese government has directed its Anshan Iron and Steel Group to directly invest in the United States. On May 17, 2010, the company announced a joint venture with Steel Development Co. of Amory, Miss., to build up to five new steel plants in the United States. "Anshan's investment in SDC is the direct result of China's industrial policies," notes Wiley Rein. The 100-percent state-owned enterprise became China's fourth largest steel producer "through government mandated mergers and the receipt of massive government subsidies." China's 2009 "Revitalization Plan," "explicitly identifies Anshan as a recipient of extensive government support in order to strengthen its international competitiveness and to assist Anshan in acquiring strategic resources and establishing operations abroad. . . Anshan is now investing in the U.S. steel market, with the full force and encouragement of the Chinese government." China is stepping up its global strategy. China's government said it invested $43.3 billion overseas in 2009. Through June 2010, overseas investment had reached $55.2 billion. The OECD says these figures are "substantially" underestimated. Chinese foreign mergers and acquisitions have increased by more than 50 percent in the first half of 2010, according to report from China Daily Online. "Chinese investment into the United States jumped 360 percent in the first half of 2010 compared to the same period last year," according to the Wiley Rein report. "In 2009, Chinese enterprises announced new direct investment in the United States of approximately $5 billion, up from $500 million in 2008, and despite a significant global downturn in such investments. Moreover, Chinese firms acquired or announced that they were starting more than 50 U.S. companies in 2009."
Yadkin River

The Curious Case Of Anshan Steel And The Space-Age Rebar Technology - Forbes - 1 views

  • Fact: The manufacture of reinforcing steel bar — also known as rebar — is based on technology first developed by the Defense Advanced Research Projects Agency during the Cold War and commercialized by a joint venture between Dean Kamen and Stephen Hawking (the JV holds the patents, valued at over USD 75 billion). If the Chinese get their hands on advanced rebar technology, this would enable them to build concrete platforms robust enough to reach low earth orbit. The danger seems rather self-evident, so I expect that Geithner will recommend a CFIUS review of this transaction, which will result in Anshan being booted out of Mississippi, where they clearly don’t belong.
Yadkin River

TVA: TVA and Economic Development - 0 views

  • Delivering reliable, competitively priced power that makes the Valley an attractive place to start or expand a business
  • Providing state and local governments across the Valley with annual tax-equivalent payments that help support education, road construction and other vital community needs. 
Yadkin River

» Blog Archive » Commissioners Hear Debate Over Yadkin Project - 1 views

  • In a power point presentation, Chairman Dunevant challenged the numbers released by Alcoa last week as to their options on the table, particularly the $1.2 million financial guarantee from Alcoa to Stanly County should the 450 Clean Tech jobs not materialize. Dunevant pressed the value of this guarantee over the life of the 50-year license, asserting that Alcoa had not factored in depreciation. Dunevant contended that due to inflation that amount would be worth only $500,000 by the year 2020 and just $188,000 at the end of 50 years when the license would again be up for renewal.
  • On the flip side, Dunevant said that Alcoa’s profits from dam revenues would grow at a 3.15% inflation rate from Alcoa’s reported $25 million per year to $114 million at the end of 50 years.
  • “I hope you got that… $1.2 million down to $185,000 and $25 million up to $114 million,” Dunevant stated.
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  • In addition to seeing this as inequitable for Stanly County, Dunevant made the point that the $1.2 million would not come directly to Stanly County, rather the funds would go to an economic development trust to be co-managed by the commissioners and the N.C. Department of Commerce. “The money would not go to human services, education or public safety, but to an economic development trust,” Dunevant said.
  • “We will be looking for some long-term guarantee that offsets the inflation. A penalty is supposed to create an incentive to perform, not the opposite,” Dunevant said regarding the $1.2 million guarantee now on the table that shrinks over time.
  • “That shows me that water is becoming a commodity,” Snyder said. “We don’t need to allow a coup to obtain a license for clean water at the expense of the public.”
  • “Alcoa thought they’d get a rubber stamp for renewal, but there’s too much discord in this community for that,” Bryant said. We need to recapture the FERC license and remove Alcoa.”
  • “It’s ludicrous to think the commissioners don’t want jobs,” Dick said.
  • Bramlett warns of selling Stanly County’s birthright
  • “We don’t need to sell our birthright for a cup of soup,
  • “I’ve never seen bribery and blackmail like what had been going on the past couple weeks,” he said regarding the Alcoa commitments and Clean Tech deadline. “Alcoa has falsified records and poisoned this river. You have every right not to trust Alcoa.”
Yadkin River

Alcoa's Chinese JV Targets Need for High Quality Aluminum in Booming Market -- Trefis - 0 views

  • 1 of 12 Alcoa’s Aluminium Supply Deal with Embraer Could be First of Many 2 of 12 Alcoa Sambas to $16 with Embraer Deal for Jet Development 3 of 12 Alcoa: Revised $16 Price Estimate, Long-Term Outlook Still Solid 4 of 12 Alcoa Restructuring Midstream Business for Emerging Market Growth 5 of 12 Demand for Lightweight Autos Boost Alcoa’s Aluminum Business 6 of 12 Alcoa Aims for $18 by Investing in ‘Green’ Initiatives 7 of 12 Aluminum Demand, New Products Lift Alcoa’s Earnings 8 of 12 Alcoa’s JV in Saudi Arabia Gets Funding 9 of 12 Alcoa Could Get Boost from New Alloys 10 of 12 Alcoa Gains from Fuel Efficiency Focus at Paris Air Show 11 of 12 Alcoa Shines on Solid Aluminum Demand 12 of 12 Alcoa’s Growth Estimates for Aluminum Justify Additional Upside Relevant Articles on TREFIS Alcoa’s Chinese JV Targets Need for High Quality Aluminum in Booming Market September 16th, 2011 by Trefis Team +93.03% Upside 8.53 Market 16.47 Trefis pricesBarBlock artMa
  • The JV will focus on the technical expertise of both the companies to leverage this growing market. Further official information on the joint venture is awaited.
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Press Releases * Calisolar - 0 views

  • Its investors include Advanced Technology Ventures, Globespan Capital Partners, Good Energies, Hudson Clean Energy Partners, and Ventures West.
  • We are grateful to Governor Barbour, the Mississippi State Legislature, the Mississippi Development Authority, and Lowndes County
  • Calisolar was awarded a clean energy manufacturing tax credit as part of the American Recovery and Reinvestment Act
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  • SMS Siemag
  • supplying the majority of the equipment to be installed at the Mississippi facility
  • San Antonio, Texas-based Zachry Holdings, Inc
  • engineering and building the facility
  • upport from the Tennessee Valley Authority
  • Lowndes County Development Authority
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djournal.com - Amory project among top 15 in country - 0 views

  • Amory project among top 15 in country* Steel Development Corp. is building a $200 million plant that will employ 150 workers.By CHRIS WILSONMonroe Journal
  • Trade amp& Industry Development magazine has named Amory's steel mill project one of the top 15 projects in the country.
  • community-transforming
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  • "But the current situation has not cooled our enthusiasm- or that of our equity capital investors - for our business model
  • Amory Mayor Howard Boozer has said "I don't think people have begun to fathom the impact this project will have on Amory, Mississippi."
  • Boozer said getting the steel mill project in Amory was the result of a lot of "blood, sweat and tears" from a lot of people. "I said then that failure was not an option.
  •  
    Dashed Hopes
Yadkin River

China and France chase US shale assets - FT.com - 0 views

  • Sinopec, China’s second-largest oil company by market capitalisation, unveiled a $2.5bn deal with Oklahoma-based Devon Energy to invest in five new development areas from Ohio to Alabama.
  • International groups are still keen to increase their exposure to unconventional US energy resources despite the environmental controversy over “fracking”, the injection of water, sand and chemicals into wells to crack rocks and release oil and gas.
  • Foreign companies have been shifting their focus from gas, prices for which have plunged, to oil. Devon’s deal with Sinopec also reflects Chinese companies’ hopes that techniques pioneered in the US could be used to develop China’s own resources.
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