You are here: Home > Steel News > Latest Steel News > Severstal...

Severstal requests $750 million US government loan for Michigan expansion

Tuesday, 05 April 2011 03:11:57 (GMT+3)   |  
       

Russian steelmaking giant Severstal has requested a $750 million loan from the US government to expand its Dearborn, Michigan operations. Expanding the operations would allow the Dearborn steel mill to produce lightweight, high-strength steel for automakers.

The US Energy Department has said that if Severstal is granted the loan under President Barack Obama's $25 billion incentive program, it would be the first Russia-based company to receive a US government loan under Obama's Advanced Technology Vehicles Manufacturing plan.


Similar articles

Turkey’s HRC and coated prices decline amid pessimistic mood, slower restocking

22 Nov | Flats and Slab

UAE’s Emsteel continues to raise rebar offer prices for December output

22 Nov | Longs and Billet

Global View on HRC: Mood far from positive, though shaky recovery seen in China amid futures rebound

22 Nov | Flats and Slab

Local Romanian flat steel spot prices still unchanged amid stable demand

22 Nov | Flats and Slab

Major steel and raw material futures prices in China – November 22, 2024 

22 Nov | Longs and Billet

Ex-India HDG prices stable, speculation mounts on discounted sales to Middle East

22 Nov | Flats and Slab

Chinese domestic PPGI prices keep slipping amid slack demand

22 Nov | Flats and Slab

Reference price maintains stability for Brazilian slabs exports

21 Nov | Flats and Slab

Flat steel prices in local Taiwanese market - week 47, 2024

21 Nov | Flats and Slab

Malaysia’s Eastern Steel ready to start HRC sales, impact on export markets to be limited

21 Nov | Steel News