iPhone | iPad
Android
Huawei
KT APPDOWNLOAD
Tosyalı SULB launched world’s largest DRI Complex in Benghazi
Global producer of green steel is strategically expanding its investments across three continents, from Europe to Africa and Asia
Tosyalı, a global green steel producer, has started a new world-class 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 expands its sphere of influence in the Mediterranean basin with Benghazi, which formerly entered with Algeria.
Fuat Tosyalı, chairman of Tosyalı Holding, said: "We are excited to expand our investments in the Mediterranean coasts of Africa, a priority investment region we identified and committed to years ago with great foresight. By focusing on value-added steel based on local production, our regional investments create a positive economic, environmental, and social impact by fostering value, employment, development, and welfare in the countries we enter.”
“We will be very pleased to bring our expertise and capabilities in value — added steel production to Benghazi (Libya) with this new complex where we have completed the ground investigation and engineering works, and where construction and assembly will start in the upcoming days. I firmly believe we will pioneer transforming the Libyan steel industry into an ecosystem that meets world steel industry needs by producing high-standard, high-quality green steel products with low carbon emissions, utilising 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."
Sharing his feelings and thoughts after the ceremony, Ahmed Gadalla, chairman of Libya United Steel Company for Iron and Steel Industry (SULB), said: "We are delighted and proud to make a crucial step towards Benghazi / Libya's industrialisation 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 to make a big move forward and strengthen economic ties between Benghazi / Libya and Turkey even more. This investment will position Benghazi / Libya as a key player in global steel production and significantly impact green steel and decarbonisation. I hope this major global investment will benefit both companies and Benghazi, following the rapid progress made in our partnership.”
The world’s largest DRI facilities
With the agreement, the two companies established a brand new company titled Tosyalı-SULB in Benghazi. The project to be realised by Tosyalı SULB includes a series of significant investments that will significantly contribute to the development of Libya's industry, particularly the development of the iron and steel sector and employment.
As a part of the investment project, the world's largest DRI plants, with a total capacity of 8.1 million tonnes, will be built. These plants will be equipped with MIDREX Flexi DRI technology, also utilised in Tosyalı Algérie. With this technology, the plant can operate using hydrogen, a clean energy source, making it one of the world's leading bases for green steel production.
Investments will commence immediately for the first phase of the integrated iron and steel complex, which will have a capacity of 2.7 million tonnes. The plant will supply the HBI (hot bricket iron) needs of the nearby region and Europe for green steel while further enhancing Tosyalı's global green steel producer position. When this investment is completed, Tosyalı will become the largest supplier in the international marketplace in the supply of HBI (Hot Bricket Iron), the primary intermediate product needed most in the green transformation process.
More news from KT Network
Guests of the festival from Middle East will be able to travel to the futuristic capital of the future and get acquainted with Moscow and its technological side
Digital Minds has become one of the leaders in digital marketing in Dubai in less than one year due to its cutting-edge marketing strategies
In its seventh cohort, the initiative has enrolled over 300 Emirati and Arab women, enhancing their management and leadership skills to prepare them for success in the corporate world
Sudaco Group was instrumental in linking notable academics to the convocation ceremony