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2 minutes read

Tosyali’s Ambitious Flight Towards Global Expansion”

Turkish steel giant, Tosyali Holding, under the leadership of Chairman Fouat Tosyali, is embarking on an ambitious expansion strategy, eyeing investments totaling $1.5-2 billion annually for global expansion, particularly in Africa, Saudi Arabia, and potential ventures in Europe and America. 

Over the next five years, Tosyali aims to elevate its steel production capacity to 20 million tons, a significant jump from its current 14 million tons. The company, which has been consistently investing substantial sums in recent years, operates manufacturing facilities in Algeria, Spain, and Turkey, alongside owning iron ore mines in Angola. Notably, it is set to spearhead a special economic zone project in Senegal, inclusive of constructing its own steel plant. Furthermore, Tosyali has its sights set on a massive $5 billion integrated steel mill project in Saudi Arabia, slated to produce 4 million tons annually.

While Tosyali maintains a stance of not actively pursuing partnerships, Chairman Fouat Tosyali indicated a willingness to explore collaborations with local private or sovereign investors in Saudi Arabia. He anticipates completing the Saudi venture within three years.

The company’s expansion strategy extends beyond Africa and the Middle East, with aspirations to tap into opportunities in Europe and America, aligning with its ambition to ascend among the top 30 global iron and steel producers, as per WorldSteel rankings, where it presently stands at 77th place.

Under Fouat Tosyali’s guidance, the company emphasizes investments in environmentally sustainable practices, with plans to venture into green production. Tosyali is currently in discussions for potential hydrogen agreements in Europe and America, reflecting its commitment to cleaner energy solutions.

In a strategic move to fund its green initiatives, Tosyali intends to issue its inaugural green bond within the next year, with a targeted size of several hundred million dollars. While the company primarily relies on its own capital for investments, it seeks to diversify its financing sources.

Domestically, Tosyali is contemplating investments in electrical steel from scratch, signaling its commitment to bolstering Turkey’s presence in green steel production. Fouat Tosyali perceives the European Green Deal as an opportunity for Turkey to leverage the shift towards a greener economy into an economic and industrial advantage, echoing sentiments previously expressed to GMK Center.

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