Investments of Turkish Erdemir exceeded $1 billion in 2024

Steel production volumes increased by 19% year-on-year in the year under review

Erdemir, Turkey’s largest integrated producer of flat and long products, part of OYAK Mining Metallurgy, recorded total investment expenditures of $1.07 billion in 2024. This is stated in the company’s report.

In 2023, investments amounted to $977 million.

In 2024, the company made additional investments in power distribution systems, turbo charger No. 6 and structural improvements to the port dock at Erdemir’s plants.

Last year, Erdemir increased its steel production to 8.5 million tons (+19% year-on-year) due to high capacity utilization. Steel output at the Ereğli facility increased by 15.2% y/y – to 3.2 million tons, while production at the Iskenderun facility grew by 21.5% y/y – to 5.3 million tons.

In 2024, total sales of flat products amounted to 7.1 million tonnes, with domestic sales of 5.6 million tonnes (-6.1% y/y).

Total sales of long products reached 957 thousand tons (+47.5% y/y), with the domestic market accounting for 943 thousand tons.

In total, the group exported 1.54 million tons of rolled products. Last year, Erdemir added 68 new customers to its order book.

Earlier, Erdemir announced that it would complete 2024 with investment expenditures of more than $1 billion as part of a broad $3.2 billion environmental transformation program that will last until the end of 2030. The key projects included the introduction of hydrogen technologies at blast furnace No. 1 and the launch of a pilot pyrolysis plant with an annual capacity of 7 thousand tons of biochar, which replaces coal as a fuel. In early 2025, the company planned to launch a new coke oven battery with an annual capacity of 800 thousand tons.