5/11/2010

MMK-Atakas JV invests USD 1.7 billion in steel mill

 

Dunya Ekonomi-Politika Ozel Ek - The joint venture between Russia’s Magnitogorsk Iron and Steel Works (MMK) and Turkey’s Atakas Group of Companies will commission its iron-steel mill worth USD 1.7 billion by the end of 2010. The facility, whose steel service center is already in operation and rolling mill will be up and running by year end, will produce 2.5 million mt of flat steel products annually. The plant will employ some 2,500 people once it becomes fully operational, exporting half of its production to the Middle Eastern, Gulf and European markets.

Turkey; Iskenderun; steel industry; Magnitogorsk; MMK; Atakas; iron-steel; steel export; flat steel

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