China's Yongjin Technology Group Co., Ltd. planned to establish CANDAX (Türkiye) Metallurgical Industry and Trade Corporation in partnership with Lanhe Holdings (Singapore) Co., Ltd. and Hainan Fuxinhui Investment Co., Ltd. The joint venture (JV) will have a 400,000-ton annual cold-rolled stainless steel processing project in the Yalova Machinery Specialized Organized Industrial Zone, Turkey.

With a total investment of approximately CNY 1.868 billion and a 24-month construction period, the project will feature a 320,000-ton annual 300-series 2B cold-rolled stainless steel production line and an 80,000-ton annual 300/400-series BA cold-rolled stainless steel production line.