NEW YORK The
state of Louisiana has approved $20 million in mega-project
funding for Benteler Steel/Tube GmbHs planned
$900-million oil country tubular goods (OCTG) mill at the Port
"Of the total being
requested, $16 million will be used for port infrastructure and
the remaining $4 million will be used for site and facility
development," James Ecker, budget analyst with the Louisiana
office of Planning and Budget, said during a session in the
Louisiana House of Representatives.
"They (Benteler) will
be establishing both a steel mill and a steel tube mill on 330
acres of land at the Port of Caddo-Bossier, which will create
675 direct jobs with an average salary of $50,000 annually,"
The first phase of the
project will involve a hot-rolling tube mill as well as
finishing lines (amm.com, Oct.
26), with an electric-arc furnace to follow in the second phase
(amm.com, Nov. 7).Benteler also
recently received $29 million in incentives from the port for
the facility (amm.com, Aug. 2).
"Its the biggest
thing you can fit on the land thats left at the port,"
Louisiana Economic Development Secretary Stephen Moret said
during the session.
Benteler has to reach its employment target of 675 by 2022,
according to Moret.