refractory material development News
The Turkish government has promised to support the development of the country’s refractory industry as part of its 11th five-year development plan, which was submitted to the Turkish Parliament on July 9, 2019 and approved by President Erdogan. According to this development plan covering 2019-2023, the Turkish government has listed R & D and investment in Turkish refractory production as a special area supported. The purpose of the initiative is to reduce Turkey’s domestic dependence on imports of certain products, such as refractories and ceramics. The plan did not specify what kind of financial support the state will provide to the refractory industry, but said that one of the plans included the government’s investment incentives for private investors in the refractory industry. In addition, the exploration and development of domestic mineral resources will also be encouraged and supported. Turkey has a large number of refractory minerals, including bauxite, magnesite, olivine, kyanite, etc. Many of them are already in industrial mass production, but there is still potential for expansion. Turkey’s latest five-year plan aims to increase the country’s gross domestic product (GDP) from around $ 784 billion in 2018 to $ 1.08 trillion by 2023.