Friday, June 14, 2024

British Steel rail ordered for Turkish project

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TURKEY: British Steel has won a contract of disclosed ‘multi-million-pound’ value to supply ‘tens of thousands of tonnes’ of rail for the project to modernise and electrify the 286 km Mersin – Adana – Gaziantep line for 200 km/h operation.

Deliveries from the steelmaker’s plant at Scunthorpe in the UK are to begin in Q2 2024.

The railway modernisation project is being undertaken by Rönesans Holding. The UK Export Finance credit agency has underwritten €781m of financing to support the project, in return for a commitment to provide export opportunities for British suppliers.

‘This is the start of what we expect to be a new unique partnership between British Steel, UKEF and international contractors’, said British Steel’s Commercial Director, Rail, Craig Harvey on May 15. ‘The ability to combine world leading quality rail with a world leading finance [model] for supply into global markets and networks is an unparalleled supply chain solution.’

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