or redistributed. ", Steurer said in an email Wednesday that previous comments McConnell has made about Rusal still stand. If you forget it, you'll be able to recover it using your email address. Aluminum The closure of the aluminum plant in Kentucky was the result of a series of events that began in the late 2000s. Steel Dynamics Inc. said this week that its board approved plans to move ahead with construction of the $1.9 billion plant, though it did not specify where other than to say it will be somewhere in the Southeast. Don't Threaten. "The Board will be two-thirds/one-third independent of Deripaska, Deripaska will not receive any dividends for as long as he remains subject to sanctions, and the Company and its operations will remain under the scrutiny of U.S. regulators," the document reads. Kentucky Aluminum Plant Idling, Laying off 600 Workers. Russian Backer Halts Funds in New Blow to U.S. Aluminum Project But the company has still not reached their goal of $1 billion for construction and equipment. Could it have been the recent change in Senate leadership on 5 January and Moscow sorry, Senator Mitchs failure to support the Boyar Restoration on 6 January? Andy Beshear made a pitch Thursday to Steel Dynamics, offering to show potential sites for the $1.9 billion plant to salvage a plan started by his predecessor. What Happens When You Put Aluminum Foil in the Microwave? Real-time updates and all local stories you want right in the palm of your hand. Surprise! Russia cancels Kentucky aluminum plant after Gov. He also referred The Courier Journal to a statement McConnell released Tuesday that praised the Senate Intelligence Committee's members for keeping their investigation "out of thepartisan spotlight and focused on the facts.". McConnell Said No to Money for Miners, Yes to Russian-Backed "We celebrated that," said Andy Meserve, president of United Steelworkers Local 9423. Threats of harming another racist or sexually-oriented language. Beshear on Thursday said it will go down as the shadiest economic development deal in Kentuckys history.. Someone didnt deliver something quite recently, in any event. Fortunately, there are solutions to mitigate the environmental impacts of the plants closure. Kentucky aluminum plant cuts off production, lays off 600 workers suspending investments as it waits for U.S. partners to raise funds, Submitting this form below will send a message to your email with a link to change your password. They have talked to some local officials that are very confident that the project is moving forward, said Osborne. Party spokeswoman Marisa McNee said McConnell needs to publicly explain what he knows concerning how Rusalbecame a vital source of funds for a project that will be built in the state he has represented in Congress for decades. Many of the former employees were unable to find work elsewhere and had to leave the area in search of employment. Keep it Clean. Craig.. Rusal, the aluminum company partially owned by Russian oligarch Oleg Deripaska, announced plans to invest around $200 million to build a new aluminum plant in Kentucky just months after the Trump administration removed it from the U.S. sanctions list. I dont what their articles or bylaws are.. Josh James fell in love with college radio at Western Kentucky University's student station, New Rock 92 (now Revolution 91.7). We'd love to hear eyewitness WP was on it, though it took a few months. Legal Statement. Some argued that the plants owners had failed to invest adequately in the facility, while others blamed the government for not providing enough incentives for businesses to remain in the area. ), Surprise! So far the company has sunk at least $65 million in the proposed mill, to be built by Unity Aluminum, previously known as Braidy Industries. Regulators are searching for a solution to First Republic Banks woes, hoping to find a way forward before U.S. stock markets open Monday, America's high school graduates are often encouraged to start at a community college before getting a bachelor's degree, but the money-saving move rarely works as planned, The rising Mississippi River will continue to test flood defenses in southeast Iowa and northwest Illinois as it crests in the area on Monday. Kentucky gave a $15 million investment into the project in 2017 after Braidy Industries, now called Unity Aluminum, promised to build a massive aluminum mill near Check out what's clicking on Foxnews.com. Choose wisely! What Happened to the Aluminum Plant in Kentucky? A Look at the It was later revealed that a company called Braidy Industries planned to build a $1.7 billion aluminum rolling mill in northeastern Kentucky, creating 600 jobs. Until it gets built, you always have to have concerns, he said. Your purchase was successful, and you are now logged in. Notwithstanding anything herein to the contrary, the Chairman, President and/or Chief Executive Officer may be removed, either with or without cause, solely by an affirmative vote of seventy (70%) percent of the members of the Board of Directors, the bylaws read. WebRobert Reid Power Plant is a coal-fired power plant owned and operated by the Big Rivers Electric Cooperation as part of Sebree Station.It is located in the northeast corner Webster County, Kentucky (just south of the Anaconda Aluminum plant in Henderson County).The plant obtains much of its fuel from coal mines located within just a few miles of the plant Local businesses were also affected by the closure of the plant, as they relied heavily on the plants employees for customers. Putin got the sanctions lifted, and Mitch McConnell got played for a fool. The mill has aluminum Senate report: Russian investor in Braidy mill is Kremlin proxy It said, We were previously advised of these changes and it is our understanding they do not impact the current status of the project., Massie, R-Vanceburg, said Friday afternoon that he did not know what the deal is., He said he had no advance notice that Bouchard was stepping down and it took me by surprise as well., Asked if he was concerned about the project, Massie said, Ive always assigned startup odds to it. Century Aluminum said the Hawesville plant is its largest U.S. Letters: Ky aluminum plant deal was like buying a bridge in Instead, the people of Kentucky got nothing. He is also a White House Press Pool and a Congressional correspondent for PoliticusUSA. We are still working on it, Gibbs said. Fridays drama created confusion among Kentucky political leaders. This governors office is committed to seeing it through and you know its a project that is going to mean generational change in that area., The only statement from Beshears office came through his spokesman, Sebastian Kitchen. What You Need To Know What is Aluminum Used For? He has covered politics and government in Kentucky since May 1978. The effect of this was felt throughout the entire community, as the local economy suffered greatly. No racism, sexism or any sort of -ism So far, though, there have been no jobs, no funds and even more doubts. In the days since President Joe Biden formally launched his 2024 campaign, key members of the sprawling political coalition that lifted him over former President Donald Trump in 2020 are far from excited about the prospect of four more years. Rusal's involvement has been controversial from the start, after it was revealed that the company had been subject to sanctions. You have permission to edit this article. The agreement struck with the Treasury Department gave the Swiss commodities firm Glencore, a company that has done business with Deripaska for years and whose CEO previously sat on Rusal's board, some of Deripaska's lost shares. Additionally, the government could incentivize businesses to invest in green technologies, such as solar and wind power. Braidy officials have said they expect the plant to cost $1.7 billion and bring hundreds of jobs to the Ashland area. The Unity spokesperson said Wednesday that the state will recoup its investment when the deal with Steel Dynamics closes, and Steel Dynamics said Unity employees will provide expertise to the project. WASHINGTON Democratic lawmakers called on the Trump administration on Thursday to review an investment in Kentucky by a Russian aluminum company that Braidy Industries still needs to raise $500 million to build a long-promised $1.7 billion aluminum plant in Appalachia, a top company executive told Kentucky lawmakers Barker is the executive chairman of Rusal and its parent company EN+. Best States is an interactive platform developed by U.S. News for ranking the 50 U.S. states, alongside news analysis and daily reporting. Russian tycoon Oleg Deripaska speaks to the media outside his carmaker GAZ plant in Nizhny Novgorod on April 16, 2019. Rusal, the largest producer of aluminum outside China, will help fund and supply a low-carbon Kentucky pledged $15 million in taxpayer dollars toward the project under former Gov. The long-delayed aluminum plant project near Ashland, Kentucky is facing another setback. The company, though, doubled down on its decision Friday afternoon in a statement from Charles Price, who the company identified as the now-chairman of Braidys Board of Directors. Kentucky Im sorry for the stress that was created in Ashland yesterday. "The Committee found that Manafort's presence on the Campaign and proximity to Trump created opportunities for Russian intelligence services to exert influence over, and acquire confidential information on, the Trump Campaign," the report says. Tags: Associated Press, business, Kentucky, education. There's a good end to that aluminum plant story at least. The U.S. Senate voted down a measure opposing the plan to end thesanctions against Rusal and EN+ Group in January 2019. It is clear that the closure of the aluminum plant has had a long-lasting and far-reaching impact on the local community. Matt Bevins administration with Braidy Industries to bring jobs to the state. The plant, with about 628 workers, is the second-largest employer in Hancock County, the Owensboro Messenger-Inquirer reported. The closure of the aluminum plant in Kentucky had political ramifications as well. Citing an "unprecedented rise in global energy prices," Century Aluminum in Kentucky announced they will be laying off 628 Hawesville Smelter employees starting August 5.