Speaking to Turkey’s Anadolu Agency, Hakkı Yıldız, board member of Turkey-based Yıldızlar Yatırım Holding, has stated that Turkish steelmaker Yıldız Demir Çelik will invest in a hot rolling mill in Kocaeli next year, for the production of value-added steel and flat steel sheets.
Stating that the company’s production will replace imports when the new rolling mill is commissioned, Mr. Yıldız added that the rolling mill will be equipped with the latest technology and will be designed in accordance with the Green Deal. In addition, he said that the company is preparing to commission a solar power plant with an installed capacity of 30 MW in Kütahya, aiming to reduce carbon emissions.
Noting that Yıldızlar Yatırım Holding operates in eight different sectors, including iron and steel and energy, Mr. Yıldız said, “We aim to generate cash with sustainable profitable growth in all our sectors, to increase our market share, and subsequently make high value-added investments. Additionally, green energy investments are one of the sectors we will invest in as a new business area. With our energy investments, we will minimize our input costs and achieve energy transformation. Our 2024 agenda includes reaching a level where our plants will produce their own energy.”
Meanwhile, Yıldız also stated that global growth will slow down in 2024 due to rising commodity prices, uncertainty in the global economy, and high inflation and interest rates, and he noted that the decline in global demand may also weaken China’s growth.