Turkey-based steelmaker
Kardemir has announced that it has received an incentive certificate from the Turkish Ministry of Economy to invest in a new railway wheel plant.
The incentive certificate dated October 27 will be used for the construction of the new railway wheel plant which is planned to have an annual capacity of 200,000 units. The total amount of investment including construction, imported equipment, domestic production equipment and other expenses stands at TRY 342,475,123 ($152.9 million).