The State of Delaware based Braidy Industries has announced a US$1.3 billion investment for a new aluminium rolling mill in Greenup County, Kentucky. The fully integrated facility is expected to be the most technically advanced aluminium rolling mill in the US.
Braidy’s aluminium rolling mill measuring 2.5 million square-feet will be constructed on a 300-acre stretch of land near South Shore in Greenup County. The company says it expected the construction at the site to begin in early 2018 and get completed by 2020 end. The facility has a job creation capability of around 1000 people in the region.
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The new aluminium rolling mill, on completion, will have a capacity of producing nearly 370,000 tonnes of aluminium rolled products per annum and will mainly cater to the automotive and aerospace sectors.
Braidy plans to manufacture mainly Series 5000, 6000, and 7000 aluminium sheet and plate products in the facility.
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Gov. Matt Bevin who was present when the announcement to this effect was made on April 27, said the decision to set up the aluminium rolling mill in the state is one of the most significant economic deals made in the history of Kentucky. The investment will create enormous job opportunity and help improving overall economic condition of the region.
Kentucky will raise $15 million funds to help fund the project. In addition, the Kentucky Economic Development Finance Authority (KEDFA) has already given preliminary approval for tax incentives up to $10 million to the Braidy Industries through the Kentucky Business Investment Program, Bevin updated.
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