Sabah – Spanish industrial waste recycler Befesa will invest USD 120 million for two steel-dust processing plants in Turkey. The total value of the investment could reach USD 300 million should Befesa, a subsidiary of Abengoa Group, decide to expand capacity in Turkey.
It has been announced in a joint press event held by Befesa and Investment Support Promotion Agency of Turkey (ISPAT) yesterday that the two waste treatment plants will be located in Turkey’s Izmir and Adana provinces, two regional centers with highly developed industries.
“These investment projects carry the potential to reach a value of USD 300 million in later stages. Initially, Befesa’s investment will contribute 80 to 100 million US Dollars to Turkey’s exports.” according to Turkey’s Minister of Economy, Zafer Caglayan, who was also present at the conference. “The conversion of steel dust to zinc oxide will also cut down the import of the material, a key input for the automotive industry.” Caglayan added.
Ilker Ayci, President of ISPAT, said that Befesa’s investment in Turkey will create 330 jobs and make an important contribution to the country’s exports.
Expressing gratitude for ISPAT’s efforts for the project, Befesa’s CEO Javier Molina said that the two plants will treat industrial wastes to create an added-value of USD 150 million.
Slated to become operational in 2014, the plants will each have a steel dust processing capacity of 110,000 tons and will create 80,000 tons of zinc oxide annually.