Turkish iron and steel producer Icdas plans to invest $2.5 billion in energy in a move to increase its capacity, Turkish daily Hurriyet reports Wednesday, while the company expects global steel demand to pick up starting in September.

Icdas is about to inaugurate a 1,200-megawatt thermal power plant, which will increase the company's electricity production capacity to 1,605 megawatts.

"Last year we took the first steps in an energy investment totaling $2.5 billion," general manager Bulend Engin said. "The two phases of the investment will be realized in 2011 and 2012."

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