Investment in zinc plant to reduce imports and generate billions of dollars

After eliminating terrorist elements in the eastern and southeastern regions of Turkey, where the terrorist organization PKK had carried out terrorist attacks against civilians and the country’s security forces for decades, investments began to pour into the provinces of the region.

One of the latest such initiatives is Lineer Metal Inc.’s zinc plant, which was established as part of a Turkish-Qatari partnership in an Organized Industrial Zone (OIZ) in southeast Siirt with the aim of reducing the country’s 250,000 tonnes of annual zinc imports. .

The installation – which completes the construction – consists of three stages. The first was implemented with an investment of $ 102 million (TL 988.5 million) and will be inaugurated on November 20 with the participation of President Recep Tayyip Erdoğan. The total investment of the facility, the remaining stages of which will be completed by 2023, will reach $ 500 million.

Turkey imports all of its zinc, which is used in the automotive, steel and white goods industries, resulting in an average current account deficit of $ 1 billion.

When the facility is operational, it should make a strong contribution to the country’s economy by removing this external dependence.

The facility where the zinc mine is located in the mining areas of Siirt and the neighboring provinces of Şırnak and Hakkari will process the zinc on site, resulting in an initial 40% reduction in imports, thus avoiding a deficit of 400 millions of dollars. When all installation steps are complete, imports will be bypassed entirely. The facility, which will provide direct employment to a total of 3,500 people in the Siirt plant and 2,500 in the Hakkari and Şırnak mines, is expected to employ 7,500 people in 2023.

Yasin Aktay, Honorary Chairman of Lineer Metal Inc., drew attention to the strategic importance of the investment, noting that Turkey currently imports all of the 250,000 tonnes of zinc it consumes annually.

“Our factory will reduce Turkey’s zinc imports by 40% with an output of 90,000 tons in the first place. Over time we will increase the capacity, ”he said. Aktay also said that the foundations for two more factories that will process lead-silver and sulfuric acid will be laid as part of the same initiative on the opening day of the zinc smelter.

Aktay stressed that the project is the largest industrial investment ever made in the region.

Fikret Baydarman, chairman of the board of directors of Lineer Metal Inc., said all raw materials needed for zinc and lead production will come from Turkey, adding that rich deposits of raw materials needed for zinc production had been discovered, especially in Hakkari and Rnak.

Explaining that 90% of the zinc is imported from Spain, Baydarman said: “There was no facility to separate the minerals in Turkey. The minerals found were sent abroad, sorted and brought to our country. We couldn’t process our ore. We will prevent this with national and national investments. “

Sheikh Abdulaziz of Qatar has a 50% partnership in the investment. Ihap Şihe, the Qatari company’s investment partnership consultant, said they have been investing in Turkey for six years with a focus on real estate and tourism.

Calling on Arab investors to change their outlook, Şihe said, “I invite Arab investors to invest in energy and mining sectors rather than real estate.

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