A credit agreement was signed with KfW IPEX Bank Gmbh within the scope of the KARDEMİR Capacity Increase and Modernization Project:
According to the information received by the Investments Magazine from Kardemir officials; Within the scope of the project in question, 21.237.500 Euro loan agreement was signed with KfW IPEX Bank Gmbh with the aim of financing the works of Increasing the Capacity of the Meltshop Converters. The loan will be used to finance the order contract signed with SMS Siemag last year in relation to the plant's originated supply in Germany. It is foreseen that the loan will be repaid in 10 years after the facility is put into operation.
With the increase of the Meltshop Converter Capacity, the current 2X80 ton oxygen converter units will increase to 3X120 tons. As is known, previously under the same investment of US $ 80 million loan agreement was signed with Turkey Business Bank.