by Graham Sturgeon, co-editor
New Steel International CEO John Schultes has revealed that his Ohio-based steel technology company and several “interested parties” from the U.S. automotive and energy sectors, plus international supporters, are attempting to bring “Project Tim” to the Durand area. New Steel International plans to use a multi-billion-dollar loan from the U.S. Department of Energy to build a combined energy and steel plant, which is being touted as the “cleanest facility of its kind.” New Steel International has secured land option agreements for more than 1,000 acres of farm and residential property in Vernon Township and the city of Durand, though Schultes reports that the project may not require all the land that has been optioned.
The facility will employ a “unique combination of proven and clean technologies” to produce low emissions, electricity, and high-strength steel for the U.S. market. The technology used in the state-of-the-art facility will limit carbon emissions and expel “clean off gas.” The process will produce a surplus of electric power and thermal energy that will be redistributed into the community. The plant will produce “no waste that will need to be disposed of,” states Schultes.
New Steel International was revealed to be behind Project Tim by Crain’s Detroit Business on Monday, Dec. 4, and Schultes is not very enthusiastic about the story the media company has published. “Crain’s did the community a real big disservice,” Schultes said Tuesday, Dec. 5 “They basically misquoted me. They had some information from some people on Capitol Hill and they cooked up their own story that is full of falsehoods, so I would suggest you don’t rely too much on what they said. The budget number was not correct, as well as several other figures. It is just not good for our project for us to publish too much information at this point.”
Stay tuned for more information in The Independent in upcoming weekend editions.