Turkish Chrome Giant, Yıldırım Group and MIDURAL Group agreed on and signed a 7-year offtake agreement with fixed commercial terms for all products of Midural Group’s future low carbon and ultra-low carbon ferrochrome and chrome metal. This offtake agreement is signed by the Swiss based Polymetcore Trading S.A, which is a wholly owned subsidiary of Yıldırım Group, and Kluchevsky Ferroalloy Plant, Russia. The offtake agreement also includes the optional extension for 7 more years after the first 7-year period expires. The deal covers the whole world except Russia. Kluchevsky will continue to sell its products in Russia only. RusChrome Gmbh, Germany, is part of agreement as an agent for operation and logistic works from Midural side.
Under the terms of the agreement, Polymetcore Trading S.A. (Switzerland), will market and sell Kluchevksy Ferroalloy Plant’s low carbon, ultra low carbonferrochrome and chrome metal. This agreement will bring new products to Yıldırım’s ferroalloys portfolio, and the company will take another leap forward in the chrome industry while Kluchevsky’s products will be distributed through a single sales and marketing channel. Yıldırım’s ferroalloy division has a mid-term business plan to establish a global company to mine and produce critical and strategical minerals and materials for aerospace, aviation, electric vehicles and other high-tech industries.
Acording to the Midural spokesman Vsevolod Oreshkin, the agreement worth $1 billion.
