Isdemir increases investments under conversion project

Isdemir increases investments under conversion project

Following the takeover of Isdemir by Erdemir in February 2002, the production at the mill was determined to be converted into flats production from longs production. In the forthcoming investment process worth $1.4 billion, which will be made in the framework of this conversion and modernization program, Isdemir has signed an agreement for $150 million of the total investment with eight different companies. Total investment worth $1.4 billion will be completed by 2009. Isdemir, expecting to commence flats production in 2007, signed the subject eight projects with Luxembourg, Australian, Chinese, British, Swiss and Turkish companies. These contracts cover No.3 blast furnace, fifth and sixth coke batteries and the seventh lime mill.