China scrap group urges tax cuts on steel scrap; export taxes on Indonesian copper; CRS files for bankruptcy; Takuma plans Indian operations
Stora Enso to back Louisiana demonstration plant
Finnish pulp and paper maker Stora Enso will construct a demonstration and market development plant in Louisiana’s Raceland, with a total capital injection of $43m (£26m). The facility, using bagasse waste as feedstock, is slated to begin production early 2017.
Tax cuts urged on Chinese steel scrap
The China Association of Metalscrap Utilization has called on the central government to lower the 17% tax on steel scrap sales to boost its use in steel manufacturing. Three years after a 70% rebate was withdrawn, the association says a 50%-70% discount on tax for steel scrap will force many mills to reconsider their use of scrap.
Export taxes agreed on Indonesian copper
Newmont Mining has signed an agreement to pay royalties and tax of 7.5% to resume exporting copper concentrate from Indonesia. The deal will see the US miner continue its business operations in Southeast Asia’s largest economy.
The Wall Street Journal
CRS in troubled waters, files for Chapter 11
Creative Recycling Systems (CRS) has filed for bankruptcy under chapter 11 and plans to close facilities in Tampa, Connecticut, South Carolina, Maryland, Illinois, Tennessee, Kentucky and Georgia. CRS’s bank will loan the company $1m for its operations during the Chapter 11 process.
Tampa Bay Business
Takuma looks to launch operations in India
Japanese firm Takuma Company has expressed interest in launching operations in the Indian city of Bangalore. The company has indicated a range of environment technology solutions and the usefulness of gasification and incineration technology.
Environ Serve to manage oil waste in Uganda
The National Environmental Management Authority in Uganda has awarded a waste mangement contract to South African firm Environ Serve. The company will be responsible for disposal across the oil exploration zone in south western Uganda.