Funding source clouds Calif. aluminum project
Jun 16, 2014 | 03:28 PM
| Nathan Laliberte
NEW YORK The source of funding for a proposed $1.5-billion secondary aluminum manufacturing facility in Barstow, Calif., is being disputed by the projects developer.
Eric Shen, chief executive officer of Irvine, Calif.-based Scuderia Development LLC, has asked Barstow City Council members to retract statements made during a March 3 meeting that indicated Chinese aluminum extrusion giant China Zhongwang Holdings Ltd. was involved with the project, he told AMM.
The council members had "made assumptions" during a presentation about the project and potential partnership with Zhongwang, Shen said.
"The city is supposed to have retracted that," Shen said in reference to comments made by assistant city manager Oliver Chi that indicated Scuderia had been retained by the chairman of the board and founder of Zhongwang to develop the proposed facility as an independent and privately held entity.
Chi did not respond to multiple requests for comment.....
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