Monday, 14 February 2011
West Chester, Ohio-based AK Steel is moving forward with its plans to become more energy independent. Industrial gas provider Air Products and Chemicals Inc. wants to build a $315 million facility that would take the waste gas from AK Steel's Middletown Works plant in southern Ohio to make steam and electricity. Air Products and Chemicals Inc. is currently in negotiations with AK Steel for the steelmaker to then purchase the recycled energy from its plant.
Construction of the facility is however subject to potential Environmental Protection Agency (EPA) and Congressional legislation because the project relates to a greenhouse gas, and since the facility would be producing electricity, it is also subject to state and federal legislation as well. Both companies are looking to obtain the necessary permits by July 1.
(sourced:steelorbis)
Tags:raw mat, flats, USA, North America, steelmaking, M&A, AK Steel
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