Hatay-based Turkish steelmaker Koç Metalurji has announced that it has signed an agreement worth $21.5 million with Chinese equipment manufacturer Harbin Guangwang for its planned rolling mill investment at its plant in the Osmaniye Organized Industrial Zone. The company has also inked a project financing agreement worth $25 million with the Industrial Development Bank of Turkey.
Within the scope of the project with an investment cost of $60 million, a rolling mill with a production capacity of 800,000 mt per year will be constructed, at which Koç Metalurji will produce rebars and wire rods without using an annealing furnace, a first in Turkey. As a result, the company will be able to reduce its waste and improve total efficiency significantly.
The high-tech rolling mill equipped with high efficiency engines will operate without consuming natural gas, making it environmentally friendly with lower production costs, energy consumption and carbon emissions, compared to similar rolling mills
