Tosyalı, a global steel producer, has launched a new steel investment in Benghazi, Libya, following its investments in Turkey, Algeria, Senegal, Angola, and Spain.
Continuing its worldwide growth by expanding its investment geography to three continents, Tosyalı further extends its influence in the Mediterranean basin.
After the ceremony, The Chairman of Tosyalı Holding, Fuat Tosyalı, stated, “We are excited to expand our investments on the Mediterranean coasts of Africa, a priority investment region we identified years ago with great foresight. By focusing on value-added steel based on local production, our regional investments create positive economic, environmental, and social impacts by fostering value, employment, development, and welfare in the countries we enter. We are pleased to bring our expertise in value-added steel production to Benghazi, Libya, with this new complex where we have completed ground investigation and engineering works. Construction and assembly will start in the coming days. I firmly believe we will pioneer transforming the Libyan steel industry into an ecosystem that meets global steel industry needs by producing high-standard, high-quality green steel products with low carbon emissions, utilizing advanced technology, innovation, and R&D in the integrated facility we will establish. I hope this agreement will benefit both companies and our friendly and brotherly country, Libya.”
Ahmed Gadalla, Chairman of Libya United Steel Company for Iron and Steel Industry (SULB), also shared his thoughts after the ceremony, “We are delighted and proud to take a crucial step towards Benghazi and Libya’s industrialization and the development of the steel industry by partnering with Tosyalı, a global steel producer and leader in green steel across three continents. This agreement will help both groups make a significant move forward and strengthen economic ties between Libya and Turkey. This investment will position Benghazi and Libya as key players in global steel production and significantly impact green steel and decarbonization. I hope this major global investment will benefit both companies and Libya, following the rapid progress made in our partnership.”
DRI facilities with a total capacity of 8.1 million tons
With the agreement, the two companies have established a new company titled Tosyalı-SULB in Benghazi, Libya. The project includes significant investments that will contribute to the development of Benghazi and Libya’s industry, particularly the iron and steel sector and employment. As part of the investment project, the world’s largest DRI plants, with a total capacity of 8.1 million tons, will be built. These plants will be equipped with MIDREX Flexi DRI technology, also used in Tosyalı Algérie. This technology allows the plant to operate using hydrogen, a clean energy source, making it one of the world’s leading bases for green steel production. Investments will begin immediately for the first phase of the integrated iron and steel complex, which will have a capacity of 2.7 million tons. The plant will supply the HBI (hot briquetted iron) needs of the nearby region and Europe for green steel.
