Latvia: Turkish investors drop plan to reopen Liepaja steel plant

Turkish-owned Liepaja Steel has abandoned plans to resume production at its steel plant in the Latvian city of Liepaja, LETA reports. The company will dismantle the plant’s steel melting furnace and move the machinery to Türkiye. Liepaja Steel failed to reach agreement with the Liepaja city council and the Liepaja Special Economic Zone (Liepajas SEZ) on restarting production at the plant, which has been idle since 2016. Meanwhile, the Liepaja municipality and Liepajas SEZ plan to turn the steel plant’s 120-hectare territory into a modern industrial park, LSM reported.