🌍 A New Chapter for Turkey’s Stainless Steel Industry : $250 Million Investment from Yongjin Technology

We are witnessing a historic breakthrough in Turkey’s industrial landscape.

China's stainless steel giant, Yongjin Technology Group, has officially announced a $250 million investment to build a production base in Yalova Province. This will be the first-ever foreign direct investment project in Turkey's stainless steel sector, sending a strong signal of global confidence in Turkey's manufacturing future.

🔹 Project Highlights:

1. Location: Yalova Machinery Specialized Industrial Zone

2. Annual capacity: 400,000 tons of cold-rolled stainless steel

3. Focus: 80,000 tons for high-end products, 320,000 tons for general applications. 

4. Scheduled to complete within 24 months

🔹 Strategic Partnership:

The project will be operated by a joint venture led by Yongjin (80% share), alongside two other Chinese companies (15% and 5% respectively).

🔹 Global Expansion:

Founded in 2003, Yongjin is a leading name in the global stainless steel market. In 2023, it achieved 2.8 million tons of cold-rolled output and RMB 4.1 billion in overseas sales.

With existing factories in China and Vietnam and a new project in Thailand underway, Yongjin continues to expand its international footprint. Its clients include major players such as Turkey’s appliance giant Arçelik (Beko, Grundig brands).

🔹 Timing Amid Trade Challenges:

This investment comes as Turkey launches an anti-dumping investigation into its $5 billion stainless steel industry. Yet Yongjin's decisive entry highlights strong long-term confidence:

"If the Turkish market had no future, why would a world-class producer invest?" said PASID Chairman Mr. Arslan Kukukmre.

🔹 Economic Impact:

The new plant is expected to reduce Turkey's stainless steel import spending by $2 billion annually, while supplying cost-competitive materials to the appliance, cookware, and automotive sectors — strengthening Turkey's global export capabilities.

Turkey is not just preparing for growth, it is building the future of its stainless steel industry. Early movers will be the biggest winners.