Izmir,
Turkey-based long steel producer Izmir Demir Celik Sanayi AS (IDC) has announced that it has decided to commence a new €30 million medium section rolling plant investment at its Izmir production base.
In its announcement, IDC recalled its statement made at the company’s 35th general assembly meeting on May 11, 2010, when it said that, in order not to depend on a single product type, it would research investment possibilities for the manufacture of different product types. IDC said that, in this context, it took the decision for the new investment at its board meeting on January 21.
The project with an annual medium section output capacity of 400,000 mt will be commenced in February and is scheduled to be completed in September 2012.
IDC said that it will fund the project from its own resources.