|
Related Companies
|
[]
|
||||||||
|
Related Funds
|
[]
|
||||||||
|
|
|||||||||
|
English
|
|||||||||
|
oda_MaterialEventDisclosureGeneralAbstract|
|
|
||||||||
|
oda_UpdateAnnouncementFlag|
|
|
Hayır (No)
|
|||||||
|
oda_CorrectionAnnouncementFlag|
|
|
Hayır (No)
|
|||||||
|
oda_DateOfThePreviousNotificationAboutTheSameSubject|
|
|
-
|
|||||||
|
oda_DelayedAnnouncementFlag|
|
|
Hayır (No)
|
|||||||
|
oda_AnnouncementContentSection|
|
|
||||||||
|
oda_ExplanationSection|
|
|
||||||||
|
oda_ExplanationTextBlock|
|
Our Company's Board of Directors has taken decision on February 7, 2019 to implement the projects for the New Sinter Factory and the 4th Coke Battery investments. With the New Sinter Factory and Coke Battery investments, it is planned that
- To increase sinter usage rate while saving consumption of pellets which is met by import and consumption of coke used in blast furnaces,
- Erdemir will become self-sufficient regarding coke needs with the modernization of the 4th Coke Battery and the By-product Facilities. It is also planned to renew the By-product Facilities, which will expire its economic life.
Besides, our subsidiary İskenderun Demir ve Çelik A.Ş.' Board of Directors, has taken decision on February 7, 2019 to implement the projects for the 3rd Coke Battery Modernization, New Sinter Factory and Vacuum Degassing Plant investments. With these new investments, it is planned
- To provide production of metallurgical coke needed by blast furnaces with the modernization of Isdemir No 3 Coke Battery,
- To meet sinter need, which will increase after the blast furnace investments, with the İsdemir New Sinter Factory investment.
- To ensure product diversity by increasing high quality steel production rather than commercial qualities with the Isdemir Vacuum Degassing Plant investment.
The investment decisions taken by our Board of Directors are the strategic initiatives for fully self-sufficiency in backward integration, the up-to-date technology in energy efficiency and the elimination of the bottlenecks in the high quality product range. With the completion of the investments, OYAK Mining Metallurgy Group will have significant milestones in creating sustainable value for its stakeholders.
In contradiction between the Turkish and English versions of this public disclosure, the Turkish version shall prevail. |
||||||||