The company's investment in the new service center will amount to $7-8 million
Turkish special steel producer Yukselen Celik expects to increase its production capacity to 200,000 tons per year thanks to the investment in the Dilovası service center. SteelOrbis reports about it.
It is expected that the construction of the service center will be completed in the first half of next year, and its commissioning is planned no later than the end of 2023. Investments will amount to $7-8 million, the company said in a statement on the public disclosure platform.
Thus, the production capacity of Yukselen Celik will increase to 200,000 tons of special steel per year, doubling compared to the current year. In 2020-2021, the company increased its capacity for the production of special value-added steel from 25,000 to 100,000 tons per year after the public offering of shares in 2019. This helped its growth in export markets.
Thanks to the next increase in capacity at Yukselen Celik, the company is expected to grow in the domestic and export markets in 2024.
As GMK Center reported earlier, the state energy company of Montenegro Elektroprivreda Crne Gore (EPCG) will purchase the steel plant Toscelik Niksic from the Turkish Tosyali Holding for €20 million. The agreement between the companies should be signed on December 20, 2022.
Also, according to Veysel Yayan, the general secretary of the Turkish Steel Manufacturers Association (TCUD), the country should conduct anti-dumping investigations in order to prevent the increase of imports and the decrease of its own exports of steel products. He believes that Turkiye should consider the possibility of applying protective measures similar to the EU and the US.