Turkish stainless steel exporter Nikel Paslanmaz plans to invest over US$150 million to enhance its production capacity and strengthen its global footprint.

The company expects to build an integrated stainless steel bar production facility in Ferizli, Sakarya province, with an investment of approximately US$100 million, aiming to commence production by the end of 2028. 

It also plans to launch a stainless steel sheet cold-rolling plant in Dilovası, Kocaeli, with an annual capacity of 40,000 to 50,000 tons by the end of 2027, with an investment of approximately US$50 million.

Overseas, Nikel Paslanmaz will establish a stainless steel service center in the Manchester/Burnley area of the UK with an annual capacity of 50,000 tons, with an estimated investment of approximately US$4 million.

Kemal Yalgın, Board Member of the company, stated that Turkey currently imports approximately 700,000 tons of stainless steel annually, making integrated stainless steel production a strategic necessity.