On January 31, Turkish plantmaker CVS Makina told SteelOrbis that it has started cold tests in the meltshop of Turkish steelmaker Toscelik's new rebar project in the northwestern Algerian city of Oran. The investment in the project totals $750 million.
CVS Makina is the supplier of the plant's meltshop which has an 80-ton electric arc furnace and an annual output capacity of 1 million mt.
As Algeria imposes a 15 percent import duty on Turkish rebar, the country has been out of reach of Turkish rebar exporters and the country's rebar needs are instead mostly met by supplies from Italy and Spain, since Algeria has a free trade agreement with the European Union. Accordingly, with the commissioning of this plant, Toscelik aims to penetrate the Algerian rebar market.