Criticism of DOE's $730M Severstal loan grows
Nov 08, 2011 | 05:56 PM
| Catherine Ngai
Tags
Severstal NA,
DOE,
Energy,
Dan Coats,
Pat Toomey,
Darrel Issa,
ATVM,
loans
Catherine Ngai
NEW YORK — A growing number of lawmakers are criticizing the U.S. Department of Energy decision to offer a $730-million conditional loan to steel producer Severstal North America Inc.
Sen. Dan Coats (R., Ind.) and Sen. Pat Toomey (R., Pa.) asked in a Nov. 7 letter to Energy Department inspector general Gregory H. Friedman why the department had offered to fund a project that was "near completion" and was already paid for by the Dearborn, Mich.-based company. It also questioned whether the department....
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