9/10/2008

Voestalpine AG eyes 4 countries for investment including Turkey

Bloomberg- Voestalpine AG, Austria's biggest steelmaker, agreed with Bulgaria to study the possibility of building a steel plant on the Black Sea coast. The Linz-based company, will decide by the yearend where to build the 5 billion-euro ($7.1 billion) plant, Alfred Dusing, chief financial officer of Voestalpine's steel unit, said after the signing in Sofia. Romania, Ukraine and Turkey are also being considered as locations. The plant will have a capacity of 5.5 million metric tons a year of crude steel and will employ about 5,000 workers, Dusing said. The company has picked potential sites in each country, including the area around Bourgas in Bulgaria, Constanta in Romania, Odessa in Ukraine and Samsun in Turkey.