It is reported that Danieli, Italy’s biggest maker of equipment for the steel industry, supply of equipments for a steel plant in Turkey will be delayed, though it denied a newspaper report that the order was canceled.

Italian daily MF reported that a venture between Russia’s Magnitogorsk Iron & Steel and Turkey’s Atakaş Group had been scrapped.

Italy based company said in a stock exchange statement that the contract is being postponed by about 6 months because of delays in local projects and financing, the Buttrio. Danieli said that the order is worth EUR 374 million, less than the EUR 1.2 billion reported by the newspaper.

The Italian company said in the statement that “MMK-Atakaş and Danieli remain determined to continue.”

(Sourced from Hurriyet daily news)