NLMK considers alternative Turkish investment

The Russian steel mill Novolipetsk Steel (NLMK) is considering the northwestern Turkish town of Filyos, Zonguldak Province, for its new investment which will include the construction of a two million metric ton flats producing mill and a new seaport, the local authorities have disclosed. Filyos is located on the Black Sea coast and is planned to be developed into an industrial zone providing many market opportunities. 
 
According to market reports, NLMK is to start a feasibility study in the region sometime this month.
 
Although NLMK officials deny any reports regarding a possible mill in Turkey, this is not NLMK's first attempt to enter the Turkish steel market. Just couple of months ago, as reported by SteelOrbis at the time, NLMK was said to be negotiating the establishment of a joint venture company with a well-known Turkish company for the construction of a steel mill in Turkey. Yet, the talks later appeared to be suspended as the parties could not agree on the investment particulars.
 
The resumption of NLMK's negotiations with the Turkish partner in question is considered in the market to be very unlikely, as NLMK now seems to be more focused on the Filyos area as the site for its new investment in Turkey.