OYAK has adopted another sector in which the Turkish economy has been entirely foreign-dependent and began building a facility to produce “carbon black”, a material with a domestic market volume of USD 260 million. Partnered with the world's sixth-largest carbon black producer Taiwanese International CSRC Investment Holdings Co. Ltd., OYAK will meet the annual domestic need of 220 thousand tons for carbon black, which is primarily used in the tire industry as well as numerous other fields including manufacturing rubber, paint, and specialty electronic devices. The production facility will be located in İskenderun and will provide significant opportunities and advantages regarding raw material supply costs for the Turkish industry while reducing imports and the current trade deficit.
OYAK, Turkey’s largest occupational pension fund, has started building a carbon black production facility in cooperation with the Taiwanese International CSRC Investment Holdings Co. Ltd., the parent company of the world’s sixth-largest carbon black producer Continental Carbon. The project is to be launched in Iskenderun and will be capable of meeting the annual domestic demand of 220 thousand tons for carbon black, which has a domestic market volume of USD 260 million and is used primarily by the tire industry as well as by numerous other fields.
As the largest carbon black market in the Middle East and Africa region, Turkey is set to be freed from its dependence on foreign sources with this investment. The project has the capacity to end the import of this product and reduce the current trade deficit while providing added value to the national economy and foreign trade with its potential for export.
OYAK General Manager Erdem: “It will position Turkey at a strategic point”
OYAK General Manager Süleyman Savaş Erdem stated that OYAK positions itself in strategic sectors, and added: “Turkey is completely foreign-dependent on carbon black, which has a market size of USD 14 billion and a demand of 13,5 million tons globally. Our cooperation with International CSRC Investment Holdings Co. Ltd., the parent company of the world's sixth-largest carbon black producer Continental Carbon with eight production facilities in Asia and America, will provide a high degree of added value for our country, regarding both the use of new technologies and creation of employment. In this fast-growing sector which requires high-quality facilities, we will proceed integrated with our operations within the iron and steel sector in particular. The factory will be equipped with advanced environmental protection systems in terms of both energy recovery and emissions thanks to our partner's global experience and know-how. In addition to creating significant opportunities regarding the raw material supply costs of our industry, it will also position Turkey at a strategic point in this area with its potential for export. We are fortifying our position in the global economy and continuing to radiate confidence among global markets by positioning ourselves in strategic sectors and by establishing international alliances. We will continue contributing to the national economy by attracting the top foreign companies of the world to our country while evaluating the savings of our members by making the right moves.”