Sivas Iron and Steel should be put back to operation

Sivas Iron and Steel should be put back to operation

Sivas Iron and Steel was sold to Sivas Investment and Trade Corp. by Privatisation Administration at the cost of $9.8 million in year 1998. However, due to increasing debts and the disagreement among the shareholders, the plant is not in operation since than. The plant, asset value of which is around $150 million, has debt of TL30 trillion to government and various institutions. According to notice released by Sivas Trade and Industry Association, the officials request that Sivas Iron and Steel, which is closed for five years and left to decay, is to be reruled by the government. It is stated that since the plant is closed, that the iron extracted in Sivas is not processed here and this is seen as a great loss for the economy of both domestic market and the government. The officials believe that the plant should start operating immediately to contribute to Turkish economy and the domestic market, no matter who the owner or the administrator of the plant is. In this case, the expectation of the officials is the take-over of the plant by the government.