You are here: Home > Steel News > Latest Steel News > Turkey’s...

Turkey’s Tosyalı plans $1.5-2 billion investment for global expansion

Friday, 24 May 2024 11:07:24 (GMT+3)   |   Istanbul
       

Fuat Tosyalı, chairman of the executive board of Turkey-based Tosyalı Holding, has stated that the company plans to invest an annual $1.5-2 billion for global expansion and increase its liquid steel production capacity to 20 million mt from 14 million mt within five years, as reported by Reuters. The company is focusing on Africa and Saudi Arabia for its expansion, while it is seeking potential acquisitions and partnerships in Europe and the US.

Indicating that Tosyalı Holding aims to invest around $5 billion in an integrated steel mill with an annual production capacity of 4 million mt in Saudi Arabia, Mr. Tosyalı stated that the company will also invest $200 million for a steel and rolling mill in Senegal. In addition, prioritizing green steel production, Tosyalı Holding may sign deals for hydrogen in Europe and the US soon.


Similar articles

Turkey’s Tosçelik aims to increase market share in value-added green steel products

11 Mar | Steel News

Turkey’s Tosyalı Holding to continue clean energy investments

09 Jan | Steel News

Turkey’s Tosyalı and China’s Baowu Steel strengthen strategic cooperation

25 May | Steel News

Turkey’s Tosyalı gets environmental approval for modernization and capacity increase project

10 Jan | Steel News

Tosyalı-Toyo to increase CR mill capacity

18 Nov | Steel News

Tosyalı-Toyo to double tin production capacity

02 Sep | Steel News

Turkey’s Tosyalı Holding makes new investments to cut carbon emissions

27 Jun | Steel News

Turkey’s Tosyalı to raise output to 15 million mt and continue investing in local and foreign markets

21 Feb | Steel News

Tosyalı Algeria completes construction of world's largest DRI plant

19 Dec | Steel News

Tosyali Holding to build $7 billion integrated plant in Osmaniye

12 Apr | Steel News