Turkey-headquartered investment firm Ussuri Capital has announced that it has begun the process of attracting investments to the amount of €60 million to finance a new flat steel mill in Romania. The funds will be used for the acquisition of land, project engineering, purchase of basic equipment, and the construction of the main production complex.
“We are looking to collaborate with investors who share our vision and are eager to be a part of green steel transformation in Europe,” Roman Kurashe, managing director of Ussuri Capital, said. The company’s project with minimal carbon emissions is worth €160 million. The first phase of the project is planned to be completed by 2027, and is anticipated to produce 400,000 mt per year of pickled coils, 250,000 mt per year of cold rolled coils, and 250,000 mt per year of HDG, while the second phase, which will be completed by 2030 and will have a capacity of 1.2 million mt of ultra-thin hot rolled coils, as SteelOrbis previously reported. The company expects revenue of €324 million and EBITDA of €38 million two years after commissioning of the first stage.
