Show is II S. S ADVANCES 35 MILLION FOR UTAH PIG IRON Plants Plant's Capacity Estimated at I Tons Jesse Jones federal loan administrator administrator administrator ad ad- announced Wednesday Wednesday Wednesday Wed Wed- in in Washington D D. C. C that Defense Plant corporation ion would build a pigi pig i iron iron on plant at Provo Utah to be operated by the Columbia Steel company He said the plant would would have an annual capacity of ot approximately approximate approximate- ly ton tons I Si He e added that this brought the total new pi pig ironi iron i capacity to be financed by the Defense Plant corporation to about tons a year and brought this type of expansion pretty close to the end of present government government government gov gov- plans The office of production manag management management man man- ag ment he explained at one one- onetime time suggested new facilities for 6 tons a year but out has n never ver been specific about aboul new plants other than those already financed In the financing of new plants for steel ingots Jones said financing financing financing ing has been arranged for only 2 tons annual capacity o out t of tons suggested b by Obtaining of the appropriation for Utah concludes negotiations which have been carried on for months between the Columbia Steel company a subsidiary of United United States States St Stee F t t corporation and the D Defense Plan Plant Corporation orp r tion subsidiary of the Reconstruction Finance company Part of the funds it was understood understood understood under under- stood will be used to develop new ceil deposits on government lands near Sunnyside Carbon county and to open new Iron d deposits posits in Iron county T e Iron deposits are owned by the Columbia Steel com com- pany The approved blast furnaces will willbe willbe willbe be an enlargement on the single furnace plant plant now now being operated by Columbia Steel company but butwill butwill butwill will be be- constructed as a separate u unit it in acc accordance ce with R F C policies policies policies poli poli- cies to realize as much as possible from its investment investment after the emergency ends Exact site of the new Construction tion was not announced By constructing new plants the theR theR R F C feels it will have a better market marlet in disposition of the investments investments in in- vestments Columbia Steel company company company com com- pany however will have the first opportunity to acquire the new furnaces Columbia Steel company plans Continued on Page Four Column Two |