Turkey’s first and only stock exchange listed steel service center, Yukselen Celik, with three major operations in the Istanbul and Izmir regions, is starting construction work at its new steel center, which is expected to roughly double the company’s steel processing capacity.
The new operation will be built in one of the industry zones in Kocaeli, western Turkey with a Lira 60 million ($7 million) investment and the prime contractor agreement for the construction works was signed on Jan. 25, the company said.
According to the company’s regulatory filing, rough construction works at the steel service center will soon begin and are expected to be completed by the end of October 2022.
The company is targeting to start commercial operations at its new steel center in the first half of 2023.
Yukselen Celik currently has 100,000 mt/year of steel processing capacity.
The company offers carbon, alloy, tool and high-speed steels and shipbuilding plates serving automotive, defense and other manufacturing sectors.
— Cenk Can