Turkish rebar producer Izmir Demir Çelik Sanayi A.Ş. (IDC) has announced that it has completed contract negotiations for the main equipment in its melting shop investment which is planned to amount to $100 million.
Within the scope of the investment, an agreement worth €11.50 million for the installation of the continuous casting machine was signed with SMS Concast AG, a subsidiary of German plantmaker SMS Group, while an agreement for the supply of the air separation plant worth a total of $16.70 million was signed with China-based Avic International Hangzhou Company Ltd and Avic Endüstriyel Gaz Mühendisliği A.Ş.
According to IDC’s statement, the investment is scheduled to start within two months and be completed by the end of the second quarter of 2023.