All Eyes on Erdemir

According to a news in Financial Times, 3 biggest steel producers in the world, Mittal Steel, Arcelor and US Steel are interested in buying Erdemir Iron-Steel factories.Financial Times said that British company Mittal Steel, Arcelor headquartered in Luxembourg and American US Steel were interested in Eregli Iron and Steel Factories, from which Turkey  expects more than 1 billion dollars from its privatization.These 3 companies are waiting for a significant increase in the production of steel in Turkey for the coming 10 years. Erdemir’s yearly steel production capacity is 3 million tons and  Erdemir plans to double this within 3 years. In the year 2003 with a total production of 18 million tons of steel, Turkey has became the 13TH biggest steel producer in the world. In accordance with the E.U. membership negotiations, increase in the steel production is expected. According to Financial Times the value of Erdemir is 2 billion dollars.Â