Chinese steelmaker invests $257M in Türkiye to expand into European market
Aerial view of Yongjin Metal Technology’s manufacturing facility in China’s Zhejiang Province, accessed on Mar 26, 2025. (Photo via yjgf.com)
Chinese stainless steel producer Yongjin Technology announced on Monday a $257 million investment to establish a new factory in Türkiye to produce goods for the European market.
The facility will be located in the Yalova Machinery Specialized Organized Industrial Zone and will have the capacity to produce 400,000 tons of cold-rolled stainless steel sheets and strips annually.
One production line will focus on 80,000 tons of high-end products per year, while the other will handle 320,000 tons of general-purpose materials. Construction is expected to be completed within 24 months.
To finance and operate the plant, Yongjin will form a joint venture with two other Chinese partners. Yongjin will hold an 80% stake, while the remaining 20% will be split between the partners, with 15% and 5% shares, respectively.
Key supplier to Turkish home appliance makers
The company said the investment will allow it to capitalize on Türkiye’s strategic location and favorable trade conditions with Europe, supporting the expansion of its overseas operations and strengthening its international brand presence.
Founded in 2003, Yongjin 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.
Yongjin is also a key supplier to major Turkish home appliance brands, including Arcelik, a manufacturing subsidiary of Koc Holding.
