Sun Coke Haverhill plant gets loan, grant
Published 12:00 am Thursday, April 1, 2004
COLUMBUS - The Sun Coke/Haverhill North Coke Company recently got a few boosts for its new $130 million coke plant in Haverhill.
Earlier this week, the company was granted a $2 million direct loan from the state at an interest rate of 3 percent for a seven-year term.
Last week, the Ohio Rail Development Commission (ORDC) approved a $25,000 grant to Sun Coke to build 13,800 feet of new siding tracks at the plant.
"This is a win-win situation," said James E. Betts, chairman of the ORDC. "We will be helping the economy of Scioto County and southern Ohio. We will be helping Ohio's steel industry. And Norfolk Southern Railway will be gaining about 10,000 rail carloads a year when it serves the plant."
The plant will employ 64 people who will earn an average of $81,250 a year, with benefits and 400 construction jobs paying an average of $47,000 annually will be created during the 18 to 24 months needed to build the plant.
Construction started last December. The company was also considering building the plant in East Chicago, Ind.
The facility will eventually have 400 coke ovens, which will produce at capacity 2.5 million tons of coke from 3.5 million tons of coal.
Coke is made by burning the impurities from high grade, metallurgical coal. Limestone and ore are melted together on a bed of coke to make steel.