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LITTLE ROCK, AR-Arkansas Business News reports that Man Industries Ltd. Based in India, has pulled back on its $100 million pipe plant. The article notes that the project fell through because of problems with financing.

The pipe manufacturing company had announced last year plans to open the plant along the Arkansas River, at the Port of Little Rock. Man Industries bought 155 acres on which to build the plant, which would have created 250 jobs in the region. However, “the credit markets cratered about the time they started,” according to Paul Latture, executive director of the Little Rock Port Authority.

The Little Rock Board of Directors approved a proposal Tuesday night by the Little Rock Port Authority to buy back the land for $2.2 million. Read more at Arkansas Business News here.

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