JV to build Turkish switch plant

摘要

Turkish State Railways (TCDD) has reached an agreement with Turkish steel producer Kardemir and Voestalpine to establish a new switch and crossing plant.rnThe site, which will employ 140 people, will be located near TCDD's existing turnout facility in Cankiri province. Voestalpine will have a 51% share in the project, Kardemir will hold a 34% stake and TCDD will have the remaining 15%. The joint venture has initial capital of €5 million and will require an investment of around €10 million.