Turkish steelmaker Colakoglu aims to raise capacity by 50% by end-2022

Major Turkish steelmaker Colakoglu is to raise its output capacity by 50% to 4.5 million mt by the end of 2022, CEO Ugur Dalbeler told S&P Global Platts Dec. 20, adding that the company has already started investment in the project.

Colakoglu is also aiming to cut its CO2-emissions and costs with a new technology supplied by Smart Steel Technologies (SST).

“In doing so, we are convinced of the importance and necessity of using new technologies in the future-proof steel production process. Thanks to the use of SST software, Colakoglu will be able to achieve maximum cost savings and take an indispensable step to-wards the digitalized and CO2-neutral future in steel production,” the CEO said.

Colakoglu started production of special grades of stainless sheet in October 2020, in line with the company’s target of focusing more on value-added steel.

With the rise in Colakoglu’s HRC production capacity and a new 3.5 million mt HRC mill project by another major Turkish steelmaker, Tosyali Demir Celik, installed HRC output capacity in Turkey is expected to exceed 23 million mt in the coming years, which is set to limit the country’s HRC import volumes.

Russian steel giant Magnitogorsk Iron & Steel Works also resumed operation of its 2.3 million mt/year hot mill at MMK Metalurji in Turkey in July this year.

— Staff, Cenk Can