Also known as the Triathlon Substation, the facility is expected to ensure that the company has sufficient infrastructure to serve the new Yokohama Tire Corporation tire manufacturing under construction in West Point, New York, US, Monroe Journal reports.
Presley said the facility is crucial to the economic growth that will come to the Golden Triangle with the Yokohama Tire plant.
"My goal is always to ensure that Mississippi has the best infrastructure to attract jobs and grow our economy whenever the ultimate beneficiary is the public and utility customers," Presley added.
Construction of the substation is scheduled to start in mid- to late March 2014, and will complete and enter comercial operation by July 1, 2014.
Approximately $2.3m will be spent by Yokohama on the construction of substation, which will have an initial capacity of 18MW, Washington Examiner reports.
