From STEEL GRIPS online
New joint-venture launched for turnout production in Turkey
May 5, 2010
On May 4th, 2010, VAE Group, part of voestalpine group, signed an agreement to establish a new turnout production site in Turkey. The initial investment is 10 million Euro.
In this joint-venture, Turkish State Railways (TCDD) will hold 15 % and Turkish integrated long-products steel producer Karabuk Demir Celik Sanayi ve Ticaret A.S (Kardemir) 34 %. The majority of 51 % will be by voestalpine also bringing in the technological know how.
The new factory to be built close to the existing turnout plant of TCDD in Cankiri province, will be designed for the manufacture of high-speed turnouts and switches for the modernisation of existing rail tracks.
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