KARDEMİR targets new investment of 1.5 billion dollars

KARDEMİR

İsmail Demir, Chairman of the Board of Directors of Karabük Iron and Steel Factories (KARDEMİR), stated that they aim to make new investments of 1.5 billion dollars in the next 5 years and said, “Currently, our crude steel production is 2.5 million tons. In the very short term, we aim to increase this to 3.5 million tons.”

“Currently, our crude steel production is 2.5 million tons. In the very short term, we aim to increase this to 3.5 million tons. We are making plans to double the value-added steel production in the next 5 years.” İsmail Demir said that they intend to take part in new initiatives in the railway transportation sector while introducing competitive products such as railway rails and wheels to the market, and that their priority in their investments is to choose techniques and technologies that respect nature.

İsmail Demir, Chairman of the Board of Directors of Karabük Iron and Steel Factories (KARDEMİR)

Demir stated that they aim to develop products in line with new technologies and that they will realize a new blast furnace investment in the first stage.

Stating that they aim to expand into new markets, Demir said they aim to increase their market share from 9 percent to 12 percent.

Pointing out that the defense industry is dependent on foreign sources for qualified materials and alloys, Demir emphasized that Kardemir and its subsidiaries will play an important role in closing these gaps.

Stating that they have new investment targets of 1.5 billion dollars in the next 5 years in line with their strategic plans, Demir said that they will create a financial system that will increase Kardemir’s sustainable competitiveness, and that added value and profitability will be their priorities.

Emphasizing that they will focus on products that are light in weight but heavy in cost and that this is one of the priority issues for Turkey, Demir said that their profitability will enable new and innovative investments and that they want to continue to share this value with their shareholders through dividend distribution.

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