Spanish recycler to invest USD 120 million in Turkey

Istanbul, 19 July 2012 – Befesa, a leading Spanish industrial waste recycler, has announced plans to will invest 120 million USD in two steel dust processing plants in Turkey with a potential additional investment of 180 million USD. Announcing the investmentZafer Caglayan,Turkey’s Minister of Economy, said “These investment projects carry the potential to reach a value of USD 300 million in later stages. Initially, Befesa’s investment will contribute 80 to 100 million US Dollars to Turkey’s exports2 adding “The conversion of steel dust to zinc oxide will also cut down the import of the material, a key input for the automotive industry”. Expected to become operational in 2014, the plants will each have a steel dust processing capacity of 110,000 tons and create 80,000 tons of zinc oxide each year. Source: Invest in Turkey

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