According to the announcement, Tosyalı is initiating a new global steel investment in Benghazi, Libya, expanding its presence in the Mediterranean basin from Algeria to Benghazi and continuing its global growth.
Tosyalı, a globally recognized leader in green steel production, recently made significant investments in Türkiye, Algeria, Senegal, Angola and Spain with a production capacity of 8.1 million tons.
Tosyalı and SULB have established a new company called Tosyalı-SULB in Benghazi, Libya. This partnership will implement various investments that will contribute significantly to Benghazi's industrial and iron and steel sector. The planned facilities will have a total production capacity of 8.1 million tons. The facilities will utilize the MIDREX Flexi DRI technology used in Tosyalı's investments in Algeria and can operate with hydrogen, a clean energy source, establishing itself as a prominent center in green steel production.
This facility will meet the demand for hot-briquetted iron (HBI) for green steel in the region and Europe, further solidifying Tosyalı's position as a reputable green steel producer worldwide. The integrated iron and steel plant will be implemented in three stages, starting immediately with an initial capacity of 2.7 million tons.
At the signing ceremony, Fuat Tosyalı, Chairman of Tosyalı Holding, shared his enthusiasm for their growing investments along the Mediterranean coasts of Africa. He reiterated their commitment to generating value, fostering employment opportunities, driving development, and enhancing prosperity in the areas where they choose to invest.
Fuat Tosyalı continued with the following remarks:
"By focusing on high-quality steel production in the investments we make in the region, emphasizing local production and creating value, employment, and development, we are not only generating positive economic impacts but also environmental and social benefits. We are pleased to transfer our expertise and capabilities in quality steel production to Benghazi, Libya through this new complex, where construction and assembly will commence in the coming days. I sincerely believe that with the advanced technology, innovation, R&D, and the production of high-quality green steel products with low carbon emissions in the integrated facility we will establish, we will lead an ecosystem transformation in providing high-quality and standard production to the global steel industry from Benghazi, Libya. I wish this investment to bring prosperity to both companies and our friendly and brotherly country, Libya Benghazi."
Ahmed Gadalla, Chairman of Libya United Steel Company for Iron and Steel Industry (SULB), expressed his happiness and pride in establishing a partnership with Tosyalı, a global steel producer and a leader in green steel, to drive the industrialization and development of the steel sector in Benghazi, Libya. He stated that the signatures made today will lead both groups towards a significant step into the future and will foster closer economic ties between Libya Benghazi and Türkiye. This investment will position Benghazi, Libya as a key player in the global steel production league and will hold a special place in terms of green steel and decarbonization. After the progress achieved in a short time for the partnership, he wished success to both companies and countries through this significant global investment.
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