NEW YORK Turkish pipe and
tube maker Borusan Mannesmann will receive $1.6 million from
the Texas Enterprise Fund to help it build its planned oil
country tubular goods (OCTG) and line pipe mill in Baytown.
Capital investment for the
300,000-ton-per-year mill, which is expected to employ 250
people, will total $148 million, according to a statement from
the office of Texas Gov. Rick Perry.
The Istanbul-based pipe and tube
producer previously said that the facility could have as many
as 350 workers (
amm.com, Jan. 2), but a company spokesman told
AMM in an e-mail that the number was revised downward
after details of the project were finalized.
"This investment is the
beginning of a new era, not only for economic relations between
the U.S. and Turkey but also for our steel sectors," A. Ahmet
Kocabiyik, chairman of parent company Borusan Holding AS, said
in the statement.
The official kickoff ceremony
for the mill took place April 2, and production is expected to
start in mid-2014.
Borusan is one of a growing
number of foreign producers to build pipe and tube mills in the