Turkish rebar producer Izmir Demir Çelik Sanayi A.Ş. (IDC) has announced that it has signed a €10.30 million agreement for the installation of an electric arc furnace with Germany-based Badische Stahl Engineering GBMH, within the scope of its investment to double the capacity of its melting shop from 1,400,000 mt to 2,800,000 mt.
The company had already signed an agreement worth €11.50 million with SMS Concast AG, a subsidiary of German plantmaker SMS Group as part of its melting shop investment, while an agreement worth a total of $16.70 million was signed with China-based Avic International Hangzhou Company Ltd and Avic Endüstriyel Gaz Mühendisliği A.Ş., as SteelOrbis previously reported.
Meanwhile, the melting shop investment, which is planned to amount to a total of $100 million, is scheduled to start within two months and be completed by the end of the second quarter of 2023.