Severstal said to be investor in coke facility

Dec 15, 2006 | 06:49 PM | Maria Guzzo

Russian steelmaker OAO Severstal has been identified as one of the investors in a proposed coke plant to be constructed in Toledo, Ohio.

Within its consolidated interim financial statements for the six months ended June 30, Cherepovets-based Severstal noted in a list of the company's subsidiary holdings that it owns a 41.9-percent interest in FDS Coke Holdings LLC.

FDS is the company behind U.S. Coking Group LLC, which has been organizing construction of a coke plant in Toledo for more than three years. On Friday, it met a deadline as part of the regulatory conditions of its air quality permit to either begin construction or show proof of binding contracts for that construction.

FDS attorney Francis X. Lyons of the law firm Bell, Boyd & Lloyd LLC, Chicago, said the company signed contracts with a technology provider that has a history of engaging in coke making, and with a construction company to build the plant. He declined to name either company, citing confidentially agreements that are in place with all of those involved in the project.....

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