Turkish Tosyali invests US$500m in Spanish plant
Turkish company Tosyali has announced the acquisition of a Spanish plant. The US$500 million investment will help the company increase its product output.
Tosyali chairman Fuat Tosyali said that the steel company’s current production capacity has reached its limits. Therefore, the company plans to raise the number of industrial facilities by purchasing a plant in Spain. It is worth noting that this acquisition is the second in the last year. The company had already agreed to buy a steel tube manufacturing plant in early 2024. This is due to the growing demand for its products in EU countries.
Other projects
The company is also actively developing other projects. One of these is the expansion of the hydrogen distribution infrastructure in the European region. Tosyali is also planning to invest in Libya. It intends to build a steel plant in the country together with local company SULB. The agreement involves the construction of two plants, one of which is already under construction. The cooperation includes:
– production of direct reduced iron and hot cast iron;
– the plant will be one of the largest industrial projects in Libya;
– the facility will have an annual production capacity of 8.1 million tonnes.
These iron and steel production volumes will make the plant the largest in the world.
Furthermore, Tosyali is actively investing in African countries like Algeria, Senegal and Angola.
In May 2024, the company inaugurated a new flat steel plant in Algeria. The plant is equipped with an electric arc furnace, which ensures an annual production of more than 2 million tonnes of products. The plant specialises in:
– slab fabrication;
– hot rolling;
– direct reduction of iron.
This plant fully satisfies Algeria’s demand for flat-rolled products, and some products are supplied to the world market. The plant is planned to expand in 2025, adding cold-rolling machines and galvanising capacity, which will require an investment of around US$150 million.
Business overview
Tosyali Holding, established in Turkey in 1988, is one of the leading players in the steel industry in the Mediterranean region. The company aims to become one of the world’s top 20 producers. In 2024, the company had a turnover of US$7 billion.
Its corporate structure includes a number of companies, including TOGG. The company is Turkey’s first electric car manufacturer. Another Toscelik subsidiary is number one on the Anadolu 500 ranking. This ranking includes Turkish companies with offices outside major cities.
