Russian steel producer MMK announced that its Turkish asset MMK Metaluji at the Iskenderun industrial site has partially resumed operations at the hot rolling mill with an annual production capacity of 2mn mt of coils.
The company has begun hot testing of technological equipment at its electric arc furnace facility which was halted back in 2012 and expects it to be completely operational by 2022 once the testing phase is over, according to a Jul 12 statement.
MMK plans to invest $40mn to re-start the Turkish facility and hopes it to fetch significantly increased EBITDA. The company also plans to increase the unit’s current output of 200-260,000mt of hot-rolled steel later in 2021.