Turkish steel producer group Tosyali Holding has announced that its steelmaker subsidy, Tosçelik's new structural and flat steel plant in the Osmaniye region, was visited by the Turkish Prime Minister R. Tayyip Erdogan on June 12.
Construction of the new steel plant in question, which is to produce a wide range of products including semi-finished and flat steels, started in April 2008 and production is scheduled to start by November 2009. Investments in the project have amounted to US$1 billion.
With the commissioning of the new plant, the company expects to reduce its reliance on the imports and country's financial deficit by US$1 billion each year. Moreover, Toscelik intends to export steel products produced at its new plant by using its own port, in addition to targeting the domestic market.
Commenting on the investment, Turkish PM Erdogan said that such new investments in the midst of the economic recession are highly appreciated, as they contribute to the country's economy and provide employment opportunities to hundreds of people.
Toscelik, established in 1952, currently produces ERW longitudinal pipes, square and rectangular structural sections and has a staff of 2,500 employees. The company commissioned its spiral welded pipe plant earlier in 2009.