Ekinciler has invested $25mn in the modernization of its iron and steel plant, the Turkish steelmaker’s chief executive officer, Namik Ekinci, told Davis Index.
The modernization has increased the capacity of the firm’s billet casters by 30pc enabling Ekinciler to produce billet for alloyed, low, and high-carbon wire rods, beams, and bars. Ekinci said the company plans further investments to increase its higher value-added product range this year.
The upgrade of its continuous casting machine made up a large portion of the investment, Ekinci said, adding that it included more than doubling the casting radius from 5mm to 10.5mm and increasing the billet sections from 150mm to 220mm.
Ekinciler Iron and Steel has an annual capacity of 1.25mn mt of steel.