Turkey-based plantmaker CVS Technologies has announced that it has signed a contract with the South African steelmaker Cape Town Iron and Steel Company (CISCO) to upgrade its existing meltshop and rolling mill located in Cape Town.
CVS Technologies told SteelOrbis that the project will include two phases, with the first phase requiring an investment of $11 million and the second phase $20 million.
After the modernization works, the annual rebar output capacity of the steelmaker will increase from 200,000 mt to 350,000 mt, while its annual liquid steel output capacity will stand at 400,000 mt, rising from 230,000 mt.
CVS Technologies aims to complete the first phase of the project in six months and to start the second phase construction right after the completion of the first phase.
