To be sure, much remains to be done for this potential to be fully realised, but there seems to be a general consensus that this is not a question of IF, but rather of WHEN. The International Monetary Fund (IMF) predicts that by 2041 Turkey will be the world’s 12th largest economy (it is now in 16th place). Considering the fact that of the ten cities in the world with the fastest-growing economy Turkey has four (Izmir, Istanbul, Bursa and Ankara), this forecast is hardly surprising.
In his article published in the December issue of the Stainless Steel World magazine, James Chater has observed that Turkey has many natural advantages that could help it to succeed economically: a large agricultural sector, abundance of minerals, a long coastline and a strategic geographic position. Certain regions are urbanizing rapidly, giving plentiful opportunities to its construction industry. The country also abounds in steel works, refineries, petrochemical plants and shipbuilding works. Other major industries include electrical goods, transport and aerospace.
Turkey’s hot climate makes the country ideal for solar power.
Many of these industries, assets and resources are interrelated. Agriculture depends on fertilizers and, like the process industries, will require more ships if Turkey increases its exports. The country’s coastline, 8,483 km in length, each year attracts millions of tourists whose high numbers and demands have positive effects on the construction and transportation industries, while Turkey’s hot climate makes the country ideal for solar power. Opportunities for the stainless steel industry are therefore numerous. Some of them are yet to be exploited, others imminent, still others already realised or underway.
Falling into the last group are three ambitious infrastructural projects. As James Chater relates in his article, the New (Third) Airport of Istanbul, under construction, is planned to be the world’s largest airport, with a capacity to serve 150 million passengers per annum. It is being built in four stages, and will, on completion, have six runways and four terminal buildings.
The Third Bosphorus Bridge (also known as the Yavuz Sultan Selim Bridge) is a good example of an ambitious infrastructural project currently under construction. When completed, it will be the longest combined motorway/railway bridge in the world.
The Third Bosphorus Bridge (also known as the Yavuz Sultan Selim Bridge) is being built to accommodate rail and motor vehicle transit over the Bosphorus, north of two existing bridges in Istanbul. When completed, it will be the longest combined motorway/railway bridge in the world. The main contractor is Hyundai, and materials used include Macalloy’s 1030 Post Tensioning System consisting of high tensile alloy steel bars finished in carbon chrome or stainless steel.
Turkey has a highly developed railway system. Its Marmaray project in Istanbul comprises an undersea rail tunnel and the modernization of the existing rail network. New rolling stock includes stainless steel trains delivered by a consortium of Bombardier, Siemens, and Nurol. In 2014, stainless steel trains delivered by China were used on the Ankara metro for the first time.
Want to learn more about Turkey and the opportunities it offers for stainless steel? See the December issue of the Stainless Steel World magazine, pp. 28–31, or read the PDF version of James Chater’s article.