Turkish steel conglomerate Tosyali Holding has signed an agreement with the Libya United Steel Company for the Iron and Steel Industry (SULB) to establish a Direct Reduced Iron (DRI) plant in Benghazi, Libya, with a total capacity of 8.1 million tonnes.
According to the agreement, the two companies have formed a new entity named “Tosyali – SULB,” based in Benghazi. This joint venture will oversee the project, which includes significant investments aimed at developing Libya’s steel industry and creating job opportunities.
The project will involve constructing plants using the “MIDREX Flexi” technology for direct reduced iron. This technology, also used by Tosyali in Algeria, allows the use of hydrogen, a clean energy source, making it a leading global platform for producing “green steel.”
Tosyali Holding has announced that investments will commence immediately in the first phase of the integrated iron and steel complex, which will have a capacity of 2.7 million tonnes. The plant is expected to meet the green steel demands of the surrounding region and Europe.
Fuat Tosyali, Chairman of Tosyali Holding, stated that ground testing and engineering works are nearing completion, with construction and assembly expected to begin soon.
He added, “I firmly believe that we will pioneer the transformation of Libya’s steel industry into an ecosystem that meets the global steel industry’s needs by producing high-quality green steel products with low carbon emissions, leveraging advanced technology, innovation, and research and development in the integrated facility we will establish.”
Last month, the newly appointed Turkish Ambassador to Libya, Guven Begec, presented his credentials to the Acting Foreign Minister of the Government of National Unity (GNU), Taher Al-Baour This ceremony marked a significant step in reinforcing the diplomatic ties between Turkey and Libya.
In a statement released by the foreign ministry, Al-Baour warmly welcomed Ambassador Begec, wishing him success in his new role. He expressed the ministry’s readiness to provide all necessary support to ensure the ambassador’s mission is successful.
