Ussuri Capital, a Turkish investment firm led by Ukraine's Roman Kurashev as CEO and co-founder, is set to invest between €700 million and €800 million in establishing a cutting-edge, low-carbon flat-rolled steel manufacturing plant in Romania. This development, as reported by GMK Center and sourced from S&P Global, represents a significant advancement in steel production technology.

The project will kick off with an initial investment of €160 million dedicated to constructing a cold rolling mill and setting up pickling, hot-dip galvanizing, and color coating lines. This foundational phase is poised to enhance the production capacity of the plant significantly.

Upon completion, the facility is projected to produce an annual output of 400,000 tons of pickled coils, 250,000 tons of cold-rolled coils, and 250,000 tons of hot-dip galvanized coils, with operations expected to commence by 2027.

In its initial phase, the plant will focus on processing hot-rolled coils imported from non-EU countries while the electric arc furnace shop increases its production capacity. A second phase, slated for completion by 2030, will see the investment volume expand to fully establish an electric arc furnace and a continuous casting module, marking a complete operational setup.

Ussuri Capital anticipates that within two years following the start of the first phase, the revenue generated from downstream operations will soar to €324 million, highlighting the project's substantial financial potential.

Founded by Roman Kurashev, who brings extensive experience from senior roles in B2B enterprises like Ukraine's Kovalska Industrial Group where he served as Commercial Director, Ussuri Capital is steering towards redefining steel production with a focus on sustainability and innovation in the Romanian market.