Izmir-based steel producer Kardemir Çelik Sanayi A.Ş. has announced that it has received loan approval to finance its rolling mill modernization project. Accordingly, China's state-owned export credit insurance agency Sinosure approved the loan facility on November 9, 2026, to finance the planned rolling mill modernization investment worth a total of €22.35 million.
The company stated that it expects the investment to contribute positively to the development of its sustainable production capacity, strengthening its competitiveness in international markets and improving its cost structure and profitability in the medium and long term.
Kardemir Çelik's net profit declines in Jan-Sept 2026
Meanwhile, Kardemir Çelik has also announced its financial results for the January-September period of 2026. In the given period, the company's net profit decreased by 28.41 percent year on year to TRY 953.84 million ($19.0 million), while its sales revenue increased by 16.25 percent year on year to TRY 21.8 billion ($434.0 million). In addition, the company's operating profit rose by 4.27 percent to TRY 2.15 billion ($42.8 million).
Kardemir Çelik stated that it started construction of its new large section rolling mill in the first quarter of 2026, with production scheduled to begin in 2027. The company aims to expand its product range with the new facility.
