Agah Ugur, the CEO of Borusan Holding announced to invest US$400 million in a new steel pipe line and energy.
It also owns Turkey’s largest steel pipe mill, Borusan Mannesmann Boru (BMB).
Meanwhile, Ugur said that the company is aiming to invest US$400 million particularly into steel pipe production and energy.
The CEO added that we are the first Turkish steel company to invest in USA. Our new mill there will produce thick-walled and high strength pipes to target the growing demand for OCTG, generated by the shale gas and petroleum.
As the new plan, the annual capacity was designed 300,000 tons and is scheduled to start production in the second half of 2014.
The production range is from OCTG to API 5CT Q125 grade pipe, and line pipe up to API 5L X80.
