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Energy Department Revives Fuel-Efficient Vehicle Loan Program
The Wall Street Journal (online registration required): The U.S. Energy Department is dusting off a controversial loan program meant to help auto makers and their supply chain finance investments in fuel-efficient vehicles, announcing a $259 million loan to Alcoa Inc.
The New York-based aluminum producer will use the money for a continuing expansion project at a Tennessee factory that makes sheet for automobile bodies. The loan, coming from the Advanced Technologies Vehicle Manufacturing fund, will support a planned 200 jobs on a project that already has begun and will be finished this year.
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