Santee Cooper approves $5 million in loans

Santee Cooper approves $5 million in loans

MONCKS CORNER, SC (AP) - South Carolina's state-owned electric and water utility Santee Cooper has approved almost $5 million in loans for industrial projects in Orangeburg and Anderson counties.

The Santee Cooper board on Monday approved a $4 million loan to Orangeburg County to build an industrial building to house a plant for Sigmatex which makes carbon fiber textiles. The company announced in October that it is investing $12 million and will create 50 jobs at the plant at the Matthews Industrial Park.

The $922,000 loan to Anderson County is for an industrial building in the Alliance Industrial Park. Santee Cooper initially approved an almost $2 million loan for that project in August of 2013.

The loans approved Monday mean Santee Cooper has made almost $26 million in economic infrastructure loans this year.

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