Brief: Erdemir To Make Pelletizing Plant Investment Of Around $550 Million

Eregli Demir ve Celik Fabrikalari

04/11/2022 06:29

Nov 4 (Reuters) - ERDEMİR  EREGL.IS :
    * SAID ON THURSDAY TO ESTABLISH PELLETIZING PLANT AFTER
DETECTING
INTENSE MINERALIZATION FOLLOWING DRILLING WORKS IN THE
BINGOL-AVNIK IRON MINE FIELD LICENSED IN THE NAME OF UNIT
ERMADEN 
    * APPROXIMATE COST OF THIS INVESTMENT, WHICH HAS AROUND IRON
ORE
RESERVE OF 250-300 MILLION TONS, IS $550 MILLION
    * PELLETIZING PLANT WITH ANNUAL PELLET PRODUCTION CAPACITY
OF 3.0
MILLION TONS, IS AIMED TO PRODUCE MORE THAN 100 MILLION TONS OF
PELLETS 
    * EXPECTS PROFIT INCREASE TO BE OBTAINED FROM THE ACTIVITIES
AT
TODAY'S PRICES WILL BE APPROXIMATELY $200-250 MILLION PER YEAR
    * EXPECTS RATE OF SELF-SUFFICIENCY IN PELLET TO INCREASE
FROM
25-30% TO 80-85%, AND THE RATE OF SELF-SUFFICIENCY IN TOTAL
FERROUS RAW MATERIALS WILL INCREASE FROM 15-20% TO 40-45%

        
 Source text for Eikon:  urn:newsml:reuters.com:*:nIKA8kBHCl
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