Hakan Kocaer, chairman of Turkish steelmaker Kocaer Çelik, has stated that the company plans to invest a total of $750 million by 2030, according to media reports. With these investments, Kocaer aims to expand its high value-added product portfolio and strengthen its competitiveness in export markets.
The investments in question will include hybrid geothermal power plants equivalent to a 900 MW solar energy capacity, a green steel mill with an annual capacity of one million mt and steel profile plant No. 4 with an annual capacity of 500,000 mt, as well as advanced technologies for green steel production. Also, Kocaer plans to establish five new service centers to strengthen its distribution channels abroad.
In addition, Hakan Kocaer stated that, despite the contraction seen in the global steel industry last year, the company exported to approximately 140 countries.