Isdemir increases investments under conversion project
Following the takeover of Isdemir by
Erdemir in February 2002, the
production at the mill was determined to be converted into
flats production from
longs production. In the forthcoming investment process worth $1.4 billion, which will be made in the framework of this conversion and modernization program, Isdemir has signed an agreement for $150 million of the total investment with eight different companies. Total investment worth $1.4 billion will be completed by 2009.
Isdemir, expecting to commence
flats production in 2007, signed the subject eight projects with
Luxembourg, Australian, Chinese, British, Swiss and Turkish companies. These contracts cover No.3 blast furnace, fifth and sixth coke batteries and the seventh lime mill.