The facility, currently under construction in Yalova Machinery Specialized Organized Industrial Zone, will have an annual production capacity of 400,000 tons of cold-rolled steel sheets and strips. This significant investment is expected to strengthen Türkiye's manufacturing capabilities and boost its export potential.
According to the investment plan, one of the two production lines at the plant will produce 80,000 tons of high-end products per year, while the other will manufacture 320,000 tons of general-purpose products. The construction process is expected to take approximately 24 months, and once the factory reaches full capacity, it will provide a competitive advantage in the European market.
Yongjin has formed a joint venture with two Chinese partners to finance and manage the project. It has been reported that Yongjin holds an 80% stake in the partnership, while the other two partners own 15% and 5%, respectively.
New plant will create hundreds of job oppurtunities in Türkiye
The new plant is expected to create hundreds of jobs in Türkiye, accelerate technology transfer, and contribute to the local industry. This initiative could also encourage other international companies to make similar investments, especially as Türkiye intensifies its efforts to attract foreign investment in high-tech and value-added industries.
Yongjin Technology Group, a key player in the steel industry, supplies stainless steel to various sectors. In 2023, the company reportedly produced over 2.8 million tons of cold-rolled stainless steel, with international sales reaching 4.1 billion yuan.
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