Yongjin Technology Group Invests $257M in Türkiye to Expand Cold-Rolled Stainless Steel Production
Yongjin Technology Group announces a $257 million investment to build a 400,000-ton annual capacity cold-rolled stainless steel plant in Yalova, Türkiye, enhancing access to European markets and strengthening its global footprint.
Yongjin Technology Group, a leading Chinese stainless steel manufacturer, is set to invest approximately $257 million (CNY 1.868 billion) in establishing a state-of-the-art cold-rolled stainless steel plant in Türkiye. The facility will be located in the Yalova Machinery Specialized Organized Industrial Zone, a strategic location offering proximity to European markets.
Project Overview
The new plant will have an annual production capacity of 400,000 metric tons of cold-rolled stainless steel sheets and strips. It will feature two production lines: one dedicated to producing 80,000 tons of high-end 300/400 series BA stainless steel, and another for 320,000 tons of general-purpose 300 series 2B stainless steel. Construction is expected to be completed within 24 months.
Strategic Joint Venture
To finance and operate the plant, Yongjin will form a joint venture with two other Chinese partners: Lanhe Holdings (Singapore) Co., Ltd. and Hainan Fuxinhui Investment Co., Ltd. Yongjin will hold an 80% stake, while the remaining 20% will be split between the partners, with 15% and 5% shares, respectively.
Enhancing Global Presence
This investment aligns with Yongjin’s strategy to expand its global footprint and better serve the European market. Türkiye’s strategic location and favorable trade conditions with Europe, including its customs union with the EU, provide Yongjin with enhanced access to European customers. The new facility will also strengthen Yongjin’s position as a key supplier to major Turkish home appliance brands, such as Arçelik, a manufacturing subsidiary of Koç Holding
About Yongjin Technology Group
Founded in 2003, Yongjin Technology Group is recognized as a leading manufacturer of cold-rolled stainless steel products used in home appliances, automobiles, and medical equipment. The company operates seven production bases—five in China and two in Vietnam—and is preparing to launch a new facility in Thailand.
