MMK-Atakas, a joint venture of Magnitogorsk Iron & Steel Works (MMK) and Atakas Group, commissioned an EAF facility at Iskenderun, Turkey.

MMK-Atakas, a joint venture of Magnitogorsk Iron & Steel Works (MMK) and Atakas Group, commissioned an EAF facility at Iskenderun, Turkey.

Commissioning of the facility means construction of the MMK-Atakas plant has been practically completed. Production will reach 800kt/y later this year and exceed 2Mt/y in 2012. The full capacity is 2.3Mt/y of metal products.

The decision to build the plant was made in May 2007. In July 2007, MMK became the owner of 50% plus one share. The Turkish Atakas Group owns 50% minus one share of the company.

At present, the plant includes the cold-rolling mill, galvanizing and colour coating lines and two service centres – in Iskenderun and Istanbul. The centres are designed to cut and slit coils and sheets and package the products.

To supply raw and input materials to the Iskenderun plant and ship MMK-Atakas products to customers a sea port capable of catering ships of up to 100000 dwt was built next to the production site.

The project cost $2.1bn and is financed by shareholders’ funds as well as borrowed capital.

The key equipment supplier for the project is the Italian Danieli company.

Victor Rashnikov, MMK Chairman of the board, stated: “MMK-Atakas will solve the problem of flat rolled products shortage on the Turkish domestic market.”