Turkish Steelmaker Tosyali Holding's Ambitious Global Expansion Plans
Key Ideas
- Tosyali Holding plans to invest $1.5-2bn annually in expanding its steel production globally, focusing on Africa, Saudi Arabia, Europe, and the Americas.
- The company aims to increase its liquid steel production capacity from 14 million to 20 million metric tons within five years, emphasizing green production and potential hydrogen deals.
- Tosyali is actively pursuing partnerships with local investors in Saudi Arabia and considering issuing a green bond to finance its green transformation and hydrogen investments.
- In addition to its steel business expansion, Tosyali's defense industry subsidiary BMC is investing in a tank factory, with tank production expected to begin by August-September the following year.
Turkish steelmaker Tosyali Holding, a key player in the steel industry, is set to embark on an ambitious global expansion drive, with investments ranging from $1.5-2bn annually. The company, with an expected turnover of $10bn this year, aims to boost its liquid steel production capacity to 20 million metric tons from the current 14 million over the next five years. Tosyali's expansion strategy includes ventures in Africa, Saudi Arabia, Europe, and the Americas, with a focus on green production. Moreover, the company is exploring opportunities in hydrogen and clean energy, potentially through partnerships in Europe and the Americas. Tosyali plans to utilize its equity funding for investments and may issue its first green bond within a year to support its green initiatives. Alongside its steel business growth, Tosyali's defense industry subsidiary BMC, in partnership with QAFIC, is venturing into tank production. The conglomerate's commitment to sustainable practices and strategic investments positions it for significant growth in the global steel market.
Topics
Investing
Renewable Energy
Investment
Economic Development
Steel Industry
Partnerships
Global Expansion
Acquisitions
Green Production
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