Turkey-based investor plans 1.2 mln tonnes flat-rolled steel plant in Romania

Turkish investment company Ussuri Capital, with Ukraine’s Roman Kurashev as CEO and co-founding member, plans to build gradually up to EUR 700 million-800 million to develop a low-carbon flat-rolled steel plant in Romania, according to GMK Center quoting S&P Global.

In the first stage, a cold rolling mill and installation of pickling, hot-dip galvanizing, and colour coating lines will be developed, with investments estimated at EUR 160 million.

The plant is expected to produce 400,000 tpa of pickled coils, 250,000 tpa of cold-rolled coils, and 250,000 tpa of hot-dip galvanized coils. Processing will start by 2027.

While the electric arc furnace shop is ramping up, the plant will process hot-rolled coils imported from non-EU countries.

In a second stage scheduled for completion in 2030, the volume of investments will increase to EUR 700 million-800 million to build an electric arc furnace and a continuous casting module.

According to Ussuri Capital’s forecasts, in two years after the commissioning of the first phase, the company’s revenue from downstream operations will reach EUR 324 million.

Ussuri Capital was founded by Roman Kurashev, who previously held senior positions in B2B businesses, such as Kovalska Industrial Group (Ukraine), where he held the position of Commercial Director. From 2006 to 2021, he held various senior strategy and commercial roles at Metinvest Holding, one of the largest steel producers and pellet suppliers in Europe, according to the data analyzed by Profit.ro.

(Photo source: George Timakov/Dreamstime.com)