Essar Steel Minnesota secures $450 million in financing

By KBJR News 1

May 16, 2014 Updated May 16, 2014 at 8:35 AM CDT

Nashwauk, MN (NNCNOW.com) - Essar Steel Minnesota has secured $450 million dollars in financing.

The money will allow them to continue work on their iron ore pellet facility near Nashwauk.

This comes after reports earlier this year, in which union representatives claimed the company owed millions to contractors.

Essar's site would be the first new iron ore pellet plant constructed on the Range in decades.