2024-07-22 01:59:09
Turkish steel company Tosyali announced the signing of an agreement with the Libyan United Steel Company to establish a direct reduced iron (DRI) facility in Benghazi.
The company explained that this facility will be part of an integrated iron and steel plant, with a production capacity of up to 8.1 million tons per year, noting that it will use MIDREX Flexi DRI technology in the facility, which will be operated with hydrogen, making it an environmentally friendly facility.
For his part, Fuat Tosyali, Chairman of the Board of Directors of Tosyali Holding, confirmed that the new investment in Libya comes within the strategy of expanding the company’s investments along the Mediterranean coast, especially in Africa, which is one of the priority investment areas.
Tosyali told Anadolu Agency that they seek to transfer their experience and expertise in steel production to Libya.
The Chairman of the Board of Directors of the United Libyan Company, Ahmed Jadallah, promised that the agreement is an important step to enhance Benghazi’s manufacturing and develop the steel sector. He described it as “a big step towards the future and economic rapprochement between Libya Benghazi and Turkey.”
“This investment will enable Libya to participate in global steel production, and will contribute to adopting green steel principles and reducing carbon emissions,” Jadallah said.
According to the company, construction and assembly of the facility is expected to begin in the coming days, and will focus on producing high-quality steel products that comply with environmental sustainability standards.
Source: Turkish Steel Company Tosyali + Anadolu Agency.
2024-07-22 01:59:09