Montgomery, AL – The price tag is rising for the giant steel mill being built at Calvert in northern Mobile County.
Officials with German steelmaker ThyssenKrupp AG say the price to build the plant will rise more than 20 percent above the original $3.7 million estimate.
ThyssenKrupp officials say the rising cost for machinery and other items is to blame.
The company's chief financial officer, Ulrich Middelmann, says because the value of the dollar has declined the plant should not cost the company any more in the European currency, euros.
(Copyright 2008 by The Associated Press. All Rights Reserved.)