Turkey’s Top Steelmaker Begins $3.2 Billion Green Transformation
- Eregli, Iskenderun plants will each have electric arc furnaces
- Group to sell debt in international markets to fund the plan
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Erdemir Group, which includes Turkey’s two top steelmakers, announced a $3.2 billion plan to invest in greener production and curb carbon emissions.
That involves building two electric arc furnaces at Eregli and Iskenderun, fed by scrap-gathering centers in Turkey and abroad, according to Serdar Basoglu, chief financial officer of the metallurgy and metals division at Oyak Group, a military pension fund manager that owns Eregli Demir ve Celik Fabrikalari AS and Iskenderun Demir ve Celik AS.