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Story Archives: Alexander optimistic about V-Vehicle's loan


Alexander optimistic about V-Vehicle's loan
by Scott Rogers - posted Thursday, March 4th, 2010 @ 10:04 amE-mail Story E-mail Story | Print Story Print Story 
U.S. Rep. Rodney Alexander remains optimistic V-Vehicle Co. will secure a $320 million loan from the Department of Energy to largely finance its venture into the automobile manufacturing business.

Alexander delivered that optimistic comment Monday at a luncheon at Monroe Civic Center. The luncheon was hosted by Monroe Chamber of Commerce.

V-Vehicle announced Sunday it would not meet a March 1 deadline, which required it to have some $350 million on hand for its automobile manufacturing venture. A cooperative endeavor agreement signed by V-Vehicle, the state and Ouachita Parish governing bodies required V-Vehicle to have $350 million on hand to access the bulk of some $130 million in incentives offered by the state and $15 million in incentives offered by local governments.
For the full report, see Page 7A of this week's Citizen.

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