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Braidy Industries Says Mill Construction Remains on Schedule
By: Associated Press
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FRANKFORT, Ky. (AP) – The company trying to build a $1.68 billion aluminum mill in eastern Kentucky backed in part by state taxpayers says it has spent $15.7 million on construction so far.
But Braidy Industries says it is on schedule “to meet its anticipated target of bringing the mill to full commercial operation in 2021.”
The Kentucky state legislature approved a $15 million investment in Braidy Industries in 2017. Company officials have said they expect the mill to create about 600 jobs for the economically depressed Appalachian region where Kentucky, West Virginia and Ohio meet.
Company officials offered a status update this week, where it also announced it was extending a fundraising deadline by three months for potential investors.