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November 30, 2009

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Sinosteel seeks to tap Turkey's market

WITH competitive prices and improved quality, China's steel giant Sinosteel Corporation is exploring the market potential in Turkey's steel industry as an equipment provider and contractor.

The Sinosteel Equipment and Engineering Co Ltd (Sinosteel MECC), a subsidiary of Sinosteel, had constructed 16 steel-producing or related projects in Turkey in the past decade, with a contracted value of US$200 million, Pan Xiaoyong, Sinosteel MECC representative in Turkey, said.

The company had another 11 projects under way, with a total investment of US$300 million, Pan said.

Sinosteel MECC provided Turkish steel mills with mining and steel-producing equipment at prices considerably lower than those offered by Western companies, which helped the company win market opportunities, said Pan.

"Sometimes our prices are even as low as half of the Western companies' prices while our products are also of sound quality," he said. "That gives us an advantage in the competition and we are improving our quality, too."

Ahmet Taskim, who is in charge of the Toscelik slab casting and hot-continuous-rolling project which Turkish steel producer Tosyali Holding contracted to Sinosteel MECC in 2007, said he was satisfied with products and services provided by the Chinese partner.

"We not only reduced our investment cost through cooperating with Sinosteel MECC but also saved a lot of time, so that we can launch the production," said Taskim.


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