BENGHAZI, LIBYA – In a significant move to expand its global footprint, Tosyalı, a renowned producer of green steel, has entered into an agreement with Libya United Steel Company for Iron and Steel Industry (SULB) to build the world’s largest Direct Reduced Iron (DRI) complex in Benghazi, Libya. This development marks another milestone in Tosyalı’s strategic expansion across three continents, including Europe, Africa, and Asia.
The announcement, made on July 19th, 2024, highlights Tosyalı’s commitment to growing its influence in the Mediterranean basin, following its successful ventures in Turkey, Algeria, Senegal, Angola, and Spain. This investment in Libya underscores the company’s focus on enhancing regional economic, environmental, and social impacts through value-added steel production based on local resources.
Fuat Tosyalı, Chairman of Tosyalı Holding, expressed his enthusiasm for the project, stating, “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 continued, “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, shared his positive outlook, 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 agreement establishes a new entity, Tosyalı-SULB, in Benghazi, Libya, which will oversee the construction and operation of the DRI complex. The project includes the world’s largest DRI plants, with a total capacity of 8.1 million tonnes. These facilities will incorporate MIDREX Flexi DRI technology, enabling operations using hydrogen, a clean energy source. This technology is already in use at Tosyalı Algérie and positions the new plant as a leading base for green steel production.
The first phase of the integrated iron and steel complex will commence immediately and have a capacity of 2.7 million tonnes. The plant will supply Hot Briquetted Iron (HBI) to meet the needs of the nearby region and Europe for green steel, bolstering Tosyalı’s status as a global green steel producer. Upon completion, Tosyalı will become the largest supplier of HBI, a crucial intermediate product in the green transformation process.
This ambitious project represents a significant step forward in the collaboration between Tosyalı and SULB, promising substantial benefits for companies and the broader region of Libya. The development of the DRI complex is set to drive industrial growth, create employment opportunities, and reinforce Libya’s position in the global steel industry.
