The company that’s promised to build a massive aluminum rolling mill in northeastern Kentucky is looking for a new loan of up to $800 million.
Braidy Industries is seeking the money from a federal program that hasn’t given out a loan in almost eight years.
The aluminum mill planned for Greenup County has been hailed by Gov. Matt Bevin as a major win in his administration’s efforts to attract new jobs and industry to the Commonwealth.
The Courier-Journal reports Braidy has applied to borrow up to $800 million from the U.S Department of Energy’s Advanced Technology Vehicles Manufacturing direct loan program. That would cover almost half of the estimated $1.7 billion cost to build the mill that plans to supply lightweight sheet aluminum for automakers, creating more than 500 jobs.