Reported Borusan Mannesmann, Turkey’s leading steel pipe manufacturer has planned to invest steel plant in the US for domestic energy industry.
The facility is expected to operate in the second half of 2014 with annual capacity of 300,000 tons.
Agah Ugur, the chief executive of parent company Borusan Holding said shale gas revolution has triggered demands in smaller pipes or pipes mainly for drilling.
This investment will boost its earnings before interest, tax, depreciation and amortization and annual sales.
Borusan planned to meet a third the investment through its equity capital and the remaining two thirds via long-term is planned to get loan from domestic bank.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=62240&division=A9
