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Turkish steel conglomerate Tosyalı has signed a memorandum of understanding to establish a flat-rolled steel production complex in the Ras Al Khair industrial zone in Saudi Arabia, SteelRadar reports.
The memorandum was signed on the sidelines of an industry forum between Tosyalı and the National Industrial Development Center (NIDC).
Tosyalı group will develop the configuration and requirements for the complex to produce 4 million tons of steel products per year, including hot and cold rolled coils, galvanized coils, tinplate and electrical steel. The products will be supplied to the local automotive, food, machine-building and energy sectors, as well as for export.
As GMK Center reported earlier, Algerian steelmaker Tosyali Algeria, a subsidiary of Turkey’s Tosyal Holding, will complete the fourth phase of its capacity expansion project by 2025. In 2024, a new DRI plant, an electric arc furnace shop, and a hot strip mill with an annual capacity of 2.5 million tons, 2.4 million tons, and 2 million tons, respectively, will be commissioned.
Also, Turkish steel producer Yıldız Demir Çelik in the current year invests in construction of hot rolling mills in Kocaeli province (Turkiye). The company will produce value-added steel and sheet steel at these facilities. The new facility will provide import substitution, it will be equipped with the latest technologies and designed in accordance with the Green Course.
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