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In a major development for Türkiye's industrial exports, Chinese stainless steel giant Yongjin Technology Group has announced a $250 million direct investment to establish a production facility in Yalova. The move marks the first direct foreign investment in Türkiye’s stainless steel sector, signaling a strong vote of confidence in the country’s industrial potential.
Yongjin's new plant will be built in the Yalova Machinery Specialization Organized Industrial Zone. According to Arslan Kucukemre, chairman of the Stainless Steel Industrialists and Businesspeople Association (PASID), the facility will produce 400,000 tons of cold-rolled stainless steel sheet and strip annually.
The factory will consist of two separate production lines—one dedicated to high-end products with an 80,000-ton capacity, and another for general-purpose materials with a 320,000-ton capacity. Construction is expected to take approximately 24 months.
Yongjin has formed a joint venture with two other Chinese companies to finance and operate the facility. Yongjin will hold an 80% stake, while the remaining 15% and 5% stakes will belong to its partners.
Founded in 2003, Yongjin Technology Group is one of the world’s leading stainless steel producers. In 2023, the company produced 2.8 million tons of cold-rolled stainless steel, with overseas sales reaching 4.1 billion yuan, accounting for 10% of its total revenues.
Yongjin already counts Turkish white goods leader Arcelik, including its Beko and Grundig brands, among its global clients. The company operates five facilities in China and two in Vietnam and recently announced plans to open a plant in Thailand.
The announcement coincides with an ongoing antidumping investigation in Türkiye's stainless steel sector, which is valued at around $5 billion. Kucukemre previously warned that such investigations could negatively impact a wide range of industries, from household appliances to automotive and machinery production.
However, he emphasized that Yongjin’s decision to invest during this sensitive period highlights the strategic importance of stainless steel production in Türkiye. “If it were a loss-making market, would one of the world’s biggest producers come?” Kucukemre asked.
The new facility is expected to significantly reduce Türkiye’s $2 billion stainless steel import bill. It will also provide domestic industries that rely on stainless steel, such as white goods, kitchenware, and automotive manufacturers, with a competitive edge in exports.
“There are already all the necessary conditions in place for an integrated stainless steel investment in Türkiye,” said Kucukemre. “The sooner this project starts, the better for our country.”
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