Turkish steelmaker Kardemir Çelik has received approval for a credit facility to finance a €22.35 million rolling mill modernization project. China’s state-owned export credit insurance agency Sinosure approved the facility on November 9, 2026.
The company expects the investment to expand its sustainable production capacity, strengthen its position in international markets and improve its cost structure and profitability over the medium and long term.
Kardemir Çelik’s net profit fell 28.41% year on year to TRY 953.84 million ($19 million) in January-September 2026. Revenue rose 16.25% to TRY 21.8 billion ($434 million), while operating profit increased 4.27% to TRY 2.15 billion ($42.8 million).
The company began building a new large-section rolling mill in the first quarter of 2026. Production is scheduled to start in 2027, allowing Kardemir Çelik to broaden its product range.
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