TKS to invest €124 million in Terni

TKS to invest €124 million in Terni

German steel producer ThyssenKrupp AG reportedly plans to invest €124 million in stainless steel production at its Italian plant, Acciai Speciali Terni, over the next five years. The investment will include establishment of a new cold rolled mill that will have an annual production capacity of 200'000 tons. €30 million will be invested in the mill, which is scheduled to be operational in 2006. The remaining €94 million will reportedly be used to upgrade Terni. The €124 million investment is expected to increase Terni's current capacity of 1.2 million tons per annum to 1.4-1.5 million tons by 2009.