ANKARA—Turkey's state-owned pension fund OYAK has partnered with Taiwan-based International CSRC Investment Holding to set up a carbon black production plant.
To be built in Iskenderun on the Turkish Mediterranean coast, the facility will have a nameplate production capacity of 220,000 metric tons per year, according to OYAK.
The project will serve the local Turkish market, described as the largest carbon black market in the Middle East & Africa region, with an estimated value of around $258 million.
OYAK's statement, issued in mid-December, did not disclose further details about the structure of the partnership or the construction timeline.
Formerly China Synthetic Rubber Corp., International CSRC Investment Holdings is the parent company of Continental Carbon, which operates eight production facilities in Asia and America. According to OYAK general manager Suleyman Savas Erdem, Turkey imports all of its carbon black.
In addition to providing self sufficiency in the supply of the raw material, the new facility also will transfer technology and create job opportunities in Turkey, Erdem added.
The factory also will have an eco-friendly design, according to Erdem, who said it will be equipped with "advanced environmental protection systems" for energy recovery and emissions.