The Duluth News Tribune joins in analyzing those cryptic comments from the chairman of the Essar Group in that Indian newspaper. The question is how Essar Steel can finance a project the size of their proposed Nashwauk mine and steel mill in this economy. The company remains insistent that they are building the project. I’ll say this, if Essar does forge ahead with a project like this in times like these, they are going to be a force to reckon with in the North American steel industry.
Or else they’ll be bankrupt. Let’s go with the first one for now.
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