Erdemir announces new investment projects

Turkish mill Erdemir's board member, Aydin Muderrisoglu, announced today that the Erdemir and Isdemir boards have decided to invest in a new 350,000 ton-capacity galvanizing line at Erdemir, in addition to a new electric arc furnace at Isdemir with a planned annual capacity of one million tons. The investments are estimated to be worth approximately $100 million for the new HDG line and around $50 million for the new EAF. They have yet to be budgeted, however. Since the necessary studies have not yet been completed, Erdemir could not give any specific dates for the beginning and the completion of the projects.