Turkey eyes joint ventures in steel

Assessment mission to arrive early next month.

LAHORE: A Turkish steel industry assessment mission will visit Pakistan in early March this year to have firsthand knowledge about available business and investment opportunities and to hold meetings with the local steel industry for initiating joint ventures.

Kerim Dilber, head of a two-member Turkish delegation, announced this at the Lahore Chamber of Commerce and Industry (LCCI) on Wednesday.

Highlighting the performance of the Turkish steel industry, Dilber said Turkey had become the 10th largest steel producer globally and the second largest in Europe. In fact, Turkey was the third fastest growing steel producer in the world between 2001 and 2010 after China and India, he said.

Since 2001, steel production in Turkey has increased significantly, growing from 15 million tons to 29.1 million tons in 2010, driven in part by strong domestic consumption. In 2010, its per capita crude steel consumption was 340 kg and it is expected to continue growing in the medium and long term.

Dilber said Turkey was a major player in the world steel market and had a track record of producing quality products to meet market needs.

LCCI Senior Vice President Kashif Younis Meher was of the view that collaboration between steel industries of the two countries could create a win-win situation on three counts. First, it will help Pakistani businessmen to have access to the European market. Second, it will enable Turkish counterparts to win markets of central Asian states and Afghanistan. And third, it will lead to transfer of Turkish technology which will further strengthen Pakistan’s steel industry.

Published in The Express Tribune, February 16^th, 2012.