Turkish integrated long steel producer Kardemir has announced that it has signed a 12-year credit facility agreement with Turkish bank Turkiye Is Bankasi for $80 million to finance its investment in increasing its meltshop converter capacity. Repayments will not be made for the first two and a half years of the agreement.
As SteelOrbis previously reported, early this month Kardemir had received an official approval for the environmental impact assessment (EIA) report for its plans to increase liquid steel production capacity at its iron and steel plant to 3.5 million mt per year.