Kardemir aims to increase its production capacity
Turkish integrated longs producer Kardemir is reportedly planning to increase its production capacity from 800'000 tons to 1.5 million tons. Moreover, Kardemir supplying 4'000 tons of rail to Turkish State Railways (TCDD) each year, aims to produce rails of 72 meter length by 2006 through a recently developed project. At the inauguration ceremony of No.2 blast furnace and coke mill, which were revamped, Osman Kılavuz, Kardemir CEO, stated that company paid tax due of TL 70 trillion ($47.7 million) and the debt of $120 million will be paid in the coming months. Kardemir reported a net profit of TL 85.7 trillion ($58.6 million) in 2003 and the net profit recorded in the first three months of 2004 reached TL 28 trillion ($19.1 million). As previously reported by SteelOrbis, Kardemir will conduct Div-Han project with Erdemir, Turkey's sole flats producer.