Alcoa to get $259 million DOE loan to upgrade Tennessee plant

The U.S. Energy Department will announce today plans to loan aluminum producer Alcoa Inc. $259 million to expand production of lightweight materials for vehicles at its Tennessee plant, according to  the Detroit News.

The loan will be the first new award in four years from the $25 billion program Congress established for the beleaguered auto industry in 2007.

Read more at: http://www.timesfreepress.com/news/business/aroundregion/story/2015/mar/26/alcoa-get-259-million-doe-loan-upgrade-tennessee-plant/295350/

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