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Article: BIRMINGHAM STEEL AND GEORGETOWN INDUSTRIES ANNOUNCE LETTER OF INTENT TO FORM DRI JOINT VENTURE.
- Article from:
- Business Wire
- Article date:
- October 3, 1995
CopyrightCOPYRIGHT 1995 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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BIRMINGHAM, Ala.--(BUSINESS WIRE)--Oct. 3, 1995--Birmingham Steel Corporation and Georgetown Industries, Inc., today announced the execution of a letter of intent to form a joint venture to pursue the construction and operation of a direct reduced iron (DRI) manufacturing facility in Louisiana. The proposed DRI plant, previously announced by Georgetown, will produce approximately 1.2 million metric tons of DRI annually. The new facility will be located at a site on the Mississippi River and is expected to commence start-up operations in late calendar year 1997. The expected cost of the project was not disclosed.
The companies stated that the venture would be ...