Tosyali Holding aims to become one of the world’s top 30 iron and steel producers. The Turkish steel giant is planning to invest USD 1.5-2 billion a year in Africa and Saudi Arabia, as well as potential acquisitions and partnerships in Europe and the USA.
Jun 17, 2024
Turkish steel giant Tosyali Holding is planning to invest USD 1.5-2 billion a year in a global expansion drive involving Africa and Saudi Arabia, as well as potential acquisitions and partnerships in Europe and the United States of America.
Tosyali Chairman Mr. Fuat Tosyali recently told a leading news agency that the Turkish steel major was expecting a turnover of USD 10 billion in 2024. Tosyali intended to raise its liquid steel production capacity to 20 million metric tons from the current 14 million within five years, he added.
Tosyali Holding has production facilities in Algeria and Spain as well as in Turkey. It also operates iron ore mines in Angola. The company further aims to operate a special economic zone in Senegal, including the construction of its own steel and rolling mill, and plans to invest around USD 5 billion in Saudi Arabia for an integrated steel mill with a capacity of four million tons.
Mr. Tosyali further said that while they were not actively seeking partnerships, they were keeping options open for partnerships with local private/sovereign investors in Saudi Arabia, adding that he expected to finish the investment in three years.
He said the steel company was pursuing investment opportunities in Europe and the USA in line with its goal to become one of the world’s top 30 iron and steel producers. Tosyali currently ranks at no. 77, as per the data available with the World Steel Producers Association.
Mr. Tosyali said they were in talks with some European and American counterparts for partnerships in clean energy. The company may also consider an acquisition abroad in its steel business in Spain, he added.
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Following the acquisition of Spanish steel pipe manufacturer STS in January, Tosyali has 40 facilities in four countries with around 15,000 employees.
He said the company wanted to issue its first green bond within one year for financing its green transformation and hydrogen investments worth several hundred million dollars. Regarding its growth plans in Turkey, Mr. Tosyali said the company was considering a green-field investment in electrical steel.
He said Tosyali’s defence industry subsidiary BMC – a joint venture with Qatar Armed Forces Industry Committee (QAFIC) – was also investing in a tank factory, with the first tanks expected to be produced by September 2025.
