Kibar Holding has signed a deal with POSCO and its affiliate Daewoo International to build a stainless steel cold rolling plant in northwest Turkey. The USD 350 million green project will construct Turkey’s first stainless steel cold rolling plant in Kocaeli to meet the country’s increasing demand for stainless steel. Completion is scheduled for 2013. The annual production capacity of the plant will be 200,000tns.
