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Essar Steel Making Some Payments

Updated: 05/16/2014 8:42 AM
Created: 05/15/2014 9:45 PM WDIO.com

Essar Steel Minnesota is starting to pay some of its contractors again. 

According to Industrial Maintenance Services, or IMS, Essar has paid a $2.4 million outstanding bill, and are now considered current on payments for that company. 

However, not all contractors have been paid.

Essar also told IMS that they will be ramping up construction of the mine and taconite plant at the end of June, and that workers should expect a fast-paced schedule.

The company just closed on a $450 million financing deal, which will help pay for the rest of the project.

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