Turkey’s Ministry of Environment and Urbanization has announced that the environmental impact assessment (EIA) application of the Turkish steelmaker Isdemir, part of Oyak Mining and Metallurgy Group, for the modernization and capacity increase project at its plant in Payas, Hatay, has been approved and the environmental impact assessment process has begun.
As part of the project, Isdemir plans to construct a new blast furnace with an annual production capacity of 2.72 million mt, which will replace the old blast furnace No.1 with an annual capacity of 875,000 mt. In addition, the company will modernize its coil rolling plant in order to increase its annual production capacity to one million mt from 600,000 mt. The company will also modernize its hot rolling plant by installing new equipments and increase its annual production capacity to 4.4 million mt from current 3.5 million mt.
The investment for this project totals TRY 2.8 billion ($579.39 million). The project will allow Isdemir to expand its product range with high-value added products, to enter into new markets and to reduce its production costs.