Turkey-based Tosyalı Holding plans to invest a total of $5.5 billion in Turkey and abroad in the next five years, and to increase its production from the current six million mt to 15 million mt with new ongoing investments according to news released by Bloomberg HT. The company also wants to develop its export-oriented strategy and evaluate the gap in the global market which was created by China’s focus on its domestic market.
Stating that the focus of their investments in Turkey is sustainability, Fuat Tosyalı, chairman of the executive board of Tosyalı Holding, said that their facility with an annual investment of $2.5 billion in the Iskenderun second Organized Industrial Zone, with an annual flat product capacity of four million mt, is planned to be commissioned at the end of this year.
Meanwhile, the company stated that it will reduce electrical energy consumption by establishing two quantum technology steelworks at its Sarıseki plant in Iskenderun. This plant, which has two ports, will contribute to the country’s export of value-added products and to narrowing Turkey’s current deficit, SteelOrbis has learned. The company also has an existing port operation in Iskenderun and a port investment in Erzin, Hatay.
“The issues in the supply chain were a good opportunity for us and we took advantage of it. Now is the time to make this permanent in 2022 and beyond, with an export structure that is value-added and conforms to sustainability criteria. It seems that the issues in supply chains will continue during a certain part of 2022,” Fuat Tosyalı commented.