21.07.2026 01:10
Sivas Iron and Steel Enterprises Inc., once an industrial giant but idle for years, opened its doors to the press. It is stated that SİDEMİR, whose current state rivals horror films, requires approximately 50 million dollars in investment to resume operations.
SİDEMİR, once among Turkey's top 50 industrial enterprises, was privatized in 1998 and purchased by businessman Erol Evcil.
PRODUCTION HAS BEEN SUSPENDED FOR 4 YEARS
With an annual steel production capacity of 720,000 tons, the facility produced 100 mm to 160 mm square billets for construction rebar and wire rods. It exported to domestic markets as well as Europe, the Middle and Far East, Africa, and the Americas. The plant has suspended production for about 4 years.
DRAGGED TO COURT DUE TO 3 BILLION TL IN STATE RECEIVABLES
Laying off workers and failing to pay the salaries of its remaining employees, the company faced legal action due to accumulated worker claims and 3 billion TL in state receivables. While numerous lawsuits related to the company are ongoing, the 17th Heavy Penal Court in Bursa decided to transfer SİDEMİR to the Savings Deposit Insurance Fund (TMSF).
AT LEAST $50 MILLION NEEDED TO RESUME OPERATIONS
SİDEMİR, now left idle, opened its doors to the press. Journalists toured the factory grounds and received information from officials. Officials noted that at least $50 million in investment is needed to restart the factory. They stated that if the necessary funding is secured, production could begin within 6 months, while emphasizing that there is 3 billion TL in public receivables.
AERIAL FOOTAGE CAPTURED
It was stated that the factory, now shrouded in silence, has the capacity to employ at least 450 personnel if it resumes production. SİDEMİR was captured from the air using a drone.