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SeverCorr to build steel plant in Mississippi

On October 27, in a ceremony that included TVA Senior Vice President John Bradley, Governor Haley Barbour of Mississippi, and other state and local officials, SeverCorr LLC President and CEO John Correnti broke ground on an $850 million steel mini-mill at the Lowndes County Golden Triangle Megasite near Columbus, Miss. This project has been in the making for over a year, and it is believed to be one of the three largest economic development projects in the country this year.

“All you’ve done for us is just unbelievable” Correnti said at the groundbreaking, speaking about TVA, the State of Mississippi, the Columbus-Lowndes Development Link, and the many other economic development partners that have worked to make the project a reality.

SeverCorr will construct and operate the world’s newest state-of-the art steel mill, designed to produce 1.5 million tons of high-quality steel for commercial and automotive applications to meet the needs of the southern United States market. In addition to $800 million-plus in capital investment, the project will have a 250-megawatt demand and produce nearly 450 high-paying direct jobs.

Correnti has said the decision to locate the steel mill in Lowndes County, Mississippi, was driven by the site’s proximity to the growing number of automotive producers located in the southern United States, access to low- cost and reliable electric power from TVA, and the business-friendly environment in Mississippi.

Construction is beginning at the MSC-certified industrial property site. The expected completion date is 2007, and approximately 2,000 construction-related jobs are anticipated.