Turkish steelmaker Koc Metalurji has taken a significant step in expanding its production capacity by signing a USD 4.84 mln contract, including VAT, with Turkey-based BVS Bulbuloglu Vinc Sanayi ve Ticaret A.S. The agreement involves the purchase and installation of double girder walking bridge overhead cranes, which will be deployed in its new wire rod and rebar production facility in Osmaniye.
The payment structure for the contract involves an advance payment of 30pct in cash, with the remaining 70pct to be paid upon product delivery. The delivery is expected to be completed within five to nine months, the company said.
This procurement is part of Koc Metalurji’s broader hot rolling mill project, which represents a USD 40 mln investment. Once operational, the facility will increase the company’s rebar production capacity from 500,000 tons per year to 900,000 tons per year.
