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Tosyali and Toyo Kohan break ground for USD 500 million steel unit in Turkey

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Turkey’s Tosyalı Holding and Japan’s Toyo Kohan held the ground breaking ceremony for a new flat steel production facility in the southern province of Mersin on January 3, in an investment worth over USD 500 million.

Some 51% of the huge new facility is owned by Tosyalı Holding and 49% by Toya Kohan. The facility, which covers an area of 250,000 square meters in the organized industrial zone of the Osmaniye district in Mersin, is Tosyalı Holding’s 17th such facility, after recent investments in Montenegro and Algeria. The group aims to create a total of 10,000 jobs over the next three years.

The production of Turkey’s highest added value flat steel will start in 20 months, 

Tosyalı Holding Chairman Mr Fuat Tosyalı said “Our aim is to decrease Turkey’s dependency on foreign countries in high tech steel products. We plan to produce such products with higher added value in Turkey. We’ll be creating over USD 300 million of additional annual export income to Turkey after the facility is completed.”

He added that the products made at the facility will primarily be for the electronic and electrical sectors, followed by the construction and mechanical sectors.

Tosyalı Holding made exports worth a total of around USD 550 million in 2014 and aims to reach USD 805 million in exports in 2015

Source – hurriyetdailynews

Zhejiang Yaang Pipe Industry Co., Limited

Article Categories:
Metals · Steel

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