Turkish integrated long steel producer Kardemir Karabük Demir Çelik Sanayi ve Ticaret A.Ş. (Kardemir) has announced that it has won the international tender launched by Algeria's national railway operator, Société Nationale des Transports Ferroviaires (SNTF), for the supply of railway wheels.
According to the company's statement, the parties signed the first purchase contract under a railway wheel supply program worth approximately $27 million. Kardemir stated that this agreement is the highest-value export contract it has signed over the past five years.
Five-year supply program
Under the agreement, Kardemir will manufacture and deliver the railway wheels required by SNTF over a five-year period through batch-based purchase orders.
The company stated that being included in the long-term supply program of a national railway operator is an important indication of the international recognition of its products and the confidence placed in the company.
Kardemir also noted that long-term export agreements strengthen its position in international markets while contributing to greater revenue predictability and sustainable value creation. The company added that it will continue to expand the reach of the Turkish steel industry's manufacturing capabilities into new markets through its export activities.
