Taiwan to invest $100 million in steelmaking in Turkey

Thursday, 14 November 2019 12:21:58 (GMT+3)   |   Istanbul
       

Walter Yeh, the president of the Taiwan External Trade Development Council (TAITRA) has announced that a Taiwan-based steel producer will invest $100 million in Turkey’s Kocaeli province, according to a media report by Turkey-based Anadolu Agency.

Mr. Yeh stated, “Taiwan is increasing its investments in Turkey. One of Taiwan’s biggest steelmakers plans to invest $100 million in Kocaeli, Turkey, and the investment process is still going on. This means that the interaction between Turkey and Taiwan is getting bigger. Turkey is a strategically important country for Taiwan, as lots of Taiwanese companies see Turkey as an operational hub. Turkey is a center on the way to reach Africa, the Middle East and Europe.”

Speaking to local Turkish news channel Bloomberg HT, Uğur Dalbeler, executive board member of the Turkish Steel Exporters’ Association and general director of Turkish steelmaker Colakoglu Metalurji, commented, “As far as I know, this investment involves stainless steel production,” while he added that the Turkish stainless steel market is now an ideal destination for investments and has started to attract other investors.


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