Turkish steel producer Kardemir has signed a new rail supply contract with Algeria’s Infrarail, according to a stock exchange filing.
The agreement is valued at EUR 11.83 mln (USD 13.3 mln), with deliveries scheduled to be completed within five months from the signing date.
This marks Kardemir’s second rail supply deal with Algeria. In October last year, the company secured a rail supply contract worth USD 11.2 mln.
Established in 1937, Kardemir is one of Turkey’s leading steel producers, with an annual production capacity of 3.5 mln tons. Its product portfolio includes blooms, billets, rebars, profiles, rails, and other steel products. The company operates out of Karabuk, where its manufacturing facilities are strategically located.
1 USD / 0.88 EUR