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A Strategic Investment Move From OYAK Mining Metallurgy Group

OYAK Mining Metallurgy Group pressed on the button for a series of investment as a part of the strategies designed to consolidate its market share in the iron-steel industry and strengthen the competitiveness.  With these investments, the Group aims to complete the backward integration and to improve the effective market share through performing the operations by means of advanced technologies.

Being the greatest integrated steel manufacturer of Turkey, OYAK Mining Metallurgy Group took a decision to make an investment with a budget of 1 billion USD in total. With the new projects to be realized at the production complex of Erdemir, the Group aims to increase the local resource utilization in production, as well as the steel production capacity and efficiency, to improve the utilization of advanced technology and to get consolidated in competitiveness by completing the backward integration.

We will support the competitiveness of our country’s industry and our Group in the international markets

Emphasizing the importance of these investments in terms of our country’s and the Group’s future goals, OYAK’s CEO Mr. Süleyman Savaş Erdem said, “By means of the activation of new investments, we will support the competitiveness of our country’s industry and our Group in the international markets in terms of diversity and cost.”

Emphasizing the importance of these investments that will have contribution in the continuation of the claim of Turkish steel industry, which is ranked 8th in world’s steel production ranking, Mr. Erdem said, “We are paying attention to strengthen the position of our country in the steel industry, which has a strategic importance and is a prioritized sector for countries, and to contribute in this goal.  Within this scope, our Ereğli factory will have sufficient capacity in raw material production and the production capacity of our factory will increase through these investments we plan. At the same time, while we catch the developments experienced in the digital industry, we will also improve the productivity of our factory. As OYAK Mining Metallurgy Group, we are conscious on that besides the product technology, we have a leadership duty in this regard, too. While we realize these investments through the power we take from our robust balance sheet structure, strong product portfolio and competent human resources; we will also fulfill our duties to implement new technologies and to grow up human resource.”

Özcan: “We are the most successful player of the global steel industry in terms of resource utilization efficiency!”

The Head of OYAK Mining Metallurgy Group,  Mr. Toker Özcan said, “We became the most assertive player in the global steel market in terms of resource utilization efficiency and by strengthening our position beyond protecting it, we will open the distance with our competitors. The competition platform moved to a different ground as the states increased their intervention. We think that the new platform will be permanent and by strengthening our Group in all dimensions, we designed our investment package within the scope of these activities.”

Mr. Özcan said, “Within the scope of the investments to be made for our Ereğli plants with a budget of 1 billion USD, we have an investment for the coke plant with a capacity of 800 thousand tons/year, investment for sinter plant with a capacity of 5 million tons/year, new blast furnace, BOF renewal and modernization, port modernization and the modernization of lines producing particularly for automotive sector in accordance with industry 4.0.”