Tosyali Sulb Invests In World’s Largest Hydrogen Powered DRI Complex in Libya
Tosyali, a global producer of green steel, is strategically expanding its investments across three continents, from Europe to Africa and Asia; In line with this forward-thinking strategy, Tosyali and Libya United Steel Company for Iron and Steel Industry (SULB) have signed an agreement to build the world’s DRI complex in Benghazi, Libya.
Tosyali, a global green steel producer, has started a new world-class steel investment in Benghazi, Libya following its investments in Turkey, Algeria, Senegal, Angola, and Spain.
Expanding Global Investment Footprint
Continuing its worldwide growth by expanding its investment geography to three continents, Tosyali further expands its sphere of influence in the Mediterranean basin with Benghazi, Libya, after a similar agreement with Algeria.
This agreement will help both groups to make a big move forward and strengthen economic ties between Benghazi, Libya, and Turkey even more
What The Leaders Had To Say
Making statements after the ceremony, The Chairman of Tosyali Holding, Fuat Tosyali, said, “We are excited to expand our investments in 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.
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, Benghazi, Libya.”
Sharing his feelings and thoughts after the ceremony, Ahmed Gadalla, Chairman of Libya United Steel Company for Iron and Steel Industry (SULB), said, “We are delighted and proud to make a crucial step towards Benghazi, Libya’s industrialisation and the development of the steel industry by partnering with Tosyali, 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 Benghazi, Libya and Turkey even more. This investment will position Benghazi, 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 Benghazi, Libya, following the rapid progress made in our partnership.”
The World’s Largest Hydrogen-Powered DRI Facility, With A Total Capacity Of 8.1 Million Tonnes
With the agreement, the two companies established a brand new company titled Tosyali-SULB in Benghazi, Libya. The projects to be realised by Tosyali SULB includes a series of significant investments that will significantly contribute to the development of Benghazi, Libya’s industry, particularly the development of the iron and steel sector and employment.
As a part of the investment project, the world’s largest DRI plants, with a total capacity of 8.1 million tonnes, will be built. These plants will be equipped with MIDREX Flexi DRI technology, also utilised in Tosyali Algeria. With this technology, the plant can operate using hydrogen, a clean energy source, making it one of the world’s leading bases for green steel production. Investments will commence immediately for the first phase of the integrated iron and steel complex, which will have a capacity of 2.7 million tonnes.
The plant will supply the HBI (hot briquetted iron) needs of the nearby region and Europe for green steel while further enhancing Tosyali’s global green steel producer position. When this investment is completed, Tosyali will become the largest supplier in the international marketplace in the supply of HBI (Hot Briquetted Iron), the primary intermediate product needed most in the green transformation process.
