Kardemir

Steel
IST KRDMD
Turkey

"Turkish steel producer Kardemir has shipped 10,000 tons of rail to Iran as part of an €80-million contract to export 140,000 tons of rail, according to the company’s CEO Mesut Ugur Yilmaz. “The company has so far produced 40,000 tons of rail as per the contract,” he was quoted as saying by Turkish newspaper Hurriyet. Turkey signed the contract with Iran in April to barter Turkish rail in exchange for Iranian oil to be supplied to Turkish Petroleum Refineries Company. According to the Minister of Roads and Urban Development Abbas Akhoundi, Iran needs to build 1,500 kilometers of railroads, for which it needs 1.8 million tons of rails by 2021." (Financial Tribune,  "Turkey Begins Rail Exports," 10/15/2016).