According to the announcement published in the Official Gazette, an estimated value of TRY 1.17 billion has been set for the “Sidemir Sivas Demir Çelik Commercial and Economic Integrity,” which was formed from the company's assets.
The tender for the sale of SİDEMİR's commercial and economic integrity will be held on September 2. The sale will be conducted based on an estimated value of TRY 1.17 billion.
Production at SİDEMİR Has Been Halted for Nearly Four Years
As SteelRadar previously reported, SİDEMİR, which was acquired by Erol Evcil in 1998 as part of the privatization program, has an annual steel production capacity of 720,000 tons. During its operating period, the plant exported a significant portion of its production to markets in Europe, Africa, the Americas, as well as the Middle East and Far East.
However, production at the plant has been halted for nearly four years due to financial difficulties. The factory, which became subject to legal proceedings over workers' claims and approximately TRY 3 billion in public debt, was reportedly transferred to TMSF following a decision by the Bursa 17th High Criminal Court.
Factory officials had previously stated that, if the necessary financing were secured, the plant could be made ready to resume production within approximately six months.
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