As per the market sources, world’s largest steelmaker by production, POSCO is set to supply 35,000 tonnes of thick steel plates for the construction of world’s largest suspension bridge in Turkey.
The company has signed a memorandum of understanding with Cimtas Steel, Turkey’s biggest steel structure engineering company to supply steel plates for over 2kms (1.2-mile) long Canakkale 1915 Bridge which is expected to be built by 2023 at a cost of around of USD 2.80 billion.
The project is likely to have a total requirement of 85,000 tonne of thick steel plate and 41,000 tonne of wire rod and POSCO will try to seek more orders for both wire rod and steel plates from Cimtas Steel for this project by maintaining a close relation with the company in future.
In Mar’17, Turkey initiated its work on building world’s longest suspension bridge where both Turkish and South Korean firms are working together in the multi-billion-dollar project.
A Turkish and Korean consortium, including SK E&C and Daelim Industrial, as well as Turkey’s Limak and Yapi Merkezi, had won the tender and 192-months lease for the historic bridge. The bridge is likely to make travel time shorter by connecting Turkey and Europe and would add to the convenience of imports and exports.
Turkey has opted for a consortium with the South Korean companies for this BOT (Build Operate Transfer) project as the partnership with the Korean companies is likely to benefit the Turkish companies to attain advanced technological know-how from South Korean companies for such mega projects.
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