Turkish steelmaker Erdemir to invest $3.2 bln by 2030 for green transition

Iskenderun Demir Ve Celik

11/01/2024 08:00

ISTANBUL, Jan 11 (Reuters) - Turkish steelmaker Erdemir
 EREGL.IS  will invest a total $3.2 billion in green transition
by 2030, OYAK Mining Metallurgy CFO Serdar Basoglu said on
Thursday, as the company aims to reduce emissions by 25% by that
date.
    Basoglu told a meeting to present the emission-reduction
plans of Erdemir and Isdemir  ISDMR.IS , both within the OYAK
group, that Erdemir would finance more than 70% of this total
investment with foreign loans. 
    It was considering the issue of eurobonds, he added.

 (Reporting by Can Sezer;
Writing by Daren Butler;
Editing by Jonathan Spicer)
 ((daren.butler@tr.com; +90-212-350 7053; Reuters Messaging:
daren.butler.thomsonreuters.com@reuters.net))