Steel Company Owes $10 Million To Minnesota

Essar Steel is overdue on a payment of $10 million it promised the state of Minnesota.

The steel company failed to meet project deadlines for a taconite plant it is building.

Essar made a deal with Gov. Dayton to pay back $66 million in incentives it received for the Nashwauk project for failing to finish the project on time.

The first payment was due March 31.

State officials say that the Nashwauk project is less than 60 percent complete.