Natural gas-fired power plant planned for W.Va.
MOUNDSVILLE, W.Va. -- Developers say a natural gas-fired power plant is planned in West Virginia's Northern Panhandle.
Officials for Moundsville Power and the Regional Economic Development Partnership of Wheeling unveiled the plans for the $615 million plant at a Marshall County Commission meeting Tuesday.
Moundsville Power managing partner Andrew Dorn says developers have filed air quality permits and hope to begin construction next spring near a Williams Energy processing plant along the Ohio River.
The Intelligencer and Wheeling News-Register reports the project would create up to 500 construction jobs, while the plant would employ 30 full-time workers. The plant would generate up to 549 megawatts of electricity when operational by 2018.
The project comes as American Electric Power prepares to close its coal-fired Kammer Plant near Moundsville by next year.
Ashland auto service set for opening Thursday
ASHLAND -- Quick Lane Tire and Auto Service is hosting a grand opening and ribbon cutting at 2 p.m. Thursday at 2130 Winchester Ave. in Ashland.
The new tire and service center is a division of Fannin Boyd County Ford, Lincoln.
Arch Coal reports loss larger than expected
ST. LOUIS -- Arch Coal Inc. said Tuesday that its first-quarter loss widened as weaker prices and demand cut into its margins, prompting the mine operator to shave its outlook for shipments of coal used in making steel.
The loss was bigger than analysts had expected.
, and its shares tumbled by more than 8 percent in afternoon trading Tuesday.
While saying markets for "thermal" coal used by power plants appear to be strengthening, John Eaves, Arch's president and chief executive, said steelmakers' demand for coal remains "soft," prompting the company's lowering by about one million tons its sales outlook for such so-called metallurgical coal.
Arch now forecasts shipping 6.3 million to 7.3 million tons of metallurgical coal this year, down from its February outlook of 7.5 million to 8.5 million tons. The company lowered by 2 million tons the upper end of its previous guidance on sales this year of thermal coal, saying it now expects to sell 124 million to 132 million of that type of coal.
St. Louis-based Arch, among the world's biggest coal producers, said it lost $124.1 million, or 59 cents per share, in the first three months of the year. That's up from a loss of $70.5 million, or 33 cents per share, during last year's January-through-March period.
The company's revenue slipped to $736 million, slightly below $737.3 million a year ago.
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