Mr. Aslan Tkhakushinov, president of the Russian Federal Republic of Adygea, held a meeting with representatives of Turkish steel producer Kurum Holding (Kurum) yesterday (November 20) regarding the possible construction of a new steel mill in the republic, a press release issued by the Adygea administration has stated.
During the meeting, Mr. Bulent Ayvazoglu, a member of Kurum's BoD, disclosed the holding's plans to build a steel mill with an annual production capacity of three million metric tons of rebar, costing a total investment of $150 million. The new mill would use scrap as its raw material.
In addition, Mr. Ayvazoglu assured the Adygea administration that all its requirements of the new mill - i.e. that it should create new jobs, bring stable revenues to the republic's budget, and be environmentally friendly - will be fulfilled. Indeed, the new mill is to create 2,000 new jobs, contribute about Ruble 4 billion annually to Adygea's budget, and be in compliance with all international ecological standards.
Kurum is interested in locating its new mill on 85 hectares of land available in the Adygeiska region of the republic, which already has the gas pipeline and railway network necessary for the realization of Kurum's project. In addition, a new power station, which will be able to satisfy the needs of the steel mill, is planned to be built in the region.
For his part, Mr. Tkhakushinov expressed his full confidence in the project's success and suggested that the construction process should be commenced within the shortest possible delay. In addition, Mr. Tkhakushinov suggested the drawing up of all necessary legal documents and the carrying out of all bureaucratic procedures in parallel with the beginning of the construction process, so that the mill will be able to start production in the next three years.