BENGHAZI, LIBYA – Tosyalı, a leading global producer of green steel, has taken a significant step in its international expansion strategy by partnering with Libya United Steel Company for Iron and Steel Industry (SULB) to establish the world’s largest Direct Reduced Iron (DRI) complex in Benghazi, Libya. This venture marks a critical milestone in Tosyalı’s investment journey across Europe, Africa, and Asia.
The project, announced on July 19th, 2024, signifies Tosyalı’s growing influence in the Mediterranean region, complementing its existing operations in Turkey, Algeria, Senegal, Angola, and Spain. The new DRI complex in Benghazi is poised to bolster the local economy by focusing on sustainable, value-added steel production.
Commenting on the new initiative, Fuat Tosyalı, Chairman of Tosyalı Holding, said, “We are excited to expand our investments on 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.”
He added, “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.”
Ahmed Gadalla, Chairman of SULB, expressed his optimism about the partnership, stating, “We are delighted and proud to make a crucial step towards 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 Libya and Turkey even more. This investment will position 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 Libya, following the rapid progress made in our partnership.”
The newly formed Tosyalı-SULB company in Benghazi will oversee the creation of the DRI complex, which will have a total capacity of 8.1 million tonnes, making it the largest of its kind globally. The facilities will utilise MIDREX Flexi DRI technology, allowing for hydrogen use, a clean energy source, thus reinforcing Tosyalı’s commitment to green steel production.
The project’s first phase will start immediately, featuring an integrated iron and steel complex with a capacity of 2.7 million tonnes. This plant aims to supply Hot Briquetted Iron (HBI) to the nearby region and Europe, further establishing Tosyalı’s leadership in the green steel sector. Once completed, Tosyalı will emerge as the largest supplier of HBI, a critical component in the green steel transformation.
This investment is expected to drive industrial development, create jobs, and solidify Libya’s position in the global steel market, benefitting both the local economy and the broader region.
