Tag: Steel

  • Posco to Build $350 Million Stainless-Steel Plant in Turkey

    Posco to Build $350 Million Stainless-Steel Plant in Turkey

    By Sungwoo Park

    Dec. 17 (Bloomberg) — Posco, the world’s second-biggest maker of stainless steel, said it plans to spend $350 million to build a cold-rolled stainless steel plant in Turkey.

    The plant, with a capacity of 200,000 metric tons a year, will be built in Izmit by 2013, the Pohang, South Korea-based company said in an e-mailed statement today.

    –Editor: Brett Miller

    To contact the reporter on this story: Sungwoo Park in Seoul at spark47@bloomberg.net.

    To contact the editor responsible for this story: James Poole at jpoole4@bloomberg.net

    via Posco to Build $350 Million Stainless-Steel Plant in Turkey – BusinessWeek.

  • Isdemir aims to meet customer needs with new facilities

    Isdemir aims to meet customer needs with new facilities

    At the 5th Turkish Steel Market Conference in Istanbul Isdemir technical support deputy DG Mr Fikret Basbug gave a presentation about Isdemir and its modernization work.

    Mr Basbug referred to Isdemir as the largest investment project of Turkish steelmaker Erdemir. In 1975, Isdemir produced 1.1 million tonnes per annum, consisting mostly of long products. Thanks to investments, this output volume increased to 2.2 million tonnes per annum.

    Mr Basbug pointed out that in 2002 during the transfer of Isdemir to Erdemir the most important issue was to establish a hot rolling plant with an output capacity of 1.5 million tonnes per annum but this was subsequently revised to a hot strip rolling plant with an annual output capacity of 3.5 million tonnes. By the end of 2011, Isdemir’s liquid steel production is expected to be 5.3 million tonnes. The hot strip rolled plant project, costing USD 3 billion is now 90% complete with 10,000 people working on the construction. Isdemir worked on the project with engineering enterprise Erenco, a subsidiary of Erdemir. Technology from Mitsubishi, Hitachi and Siemens has been used in the project.

    The Isdemir official also mentioned completed projects, indicating that the capacity of Isdemir’s port has been increased from 12 million tonnes to 20 million tonnes per annum. The company’s logistics center continues to operate in the Marmara region, while storage facilities have been expanded for raw material stocks. In addition, the company’s coal injection furnace has started operations.

    (Sourced from Steel Orbis)