At the Tosyalı Business Partners Meeting organized recently in Antalya by Turkey-based Tosyalı Holding, Fuat Tosyalı, the chairman of the company, stated that the balances in the global economy have begun to change in the last five years due to the impact of the pandemic, geopolitical tensions, macro-economic imbalances, as well as developments regarding artificial intelligence and advanced technology. Stating that economic growth has not reached the expected levels in many regions, Mr. Tosyalı emphasized that it is necessary to be prepared for new scenarios to create a strong economic structure. Commenting that the mentioned factors continue to impact the Turkish economy and that oversupply in China and the inflow of low-cost competitive products from China into the Turkish market have put the country’s economy in difficulty, the Tosyalı Holding chairman said, “While expanding our scale, we need to be able to offer quality products at competitive prices by increasing our efficiency.”
Fuat Tosyalı noted that Tosyalı Holding, which aims to become one of the 20 largest steel companies in the world in the next five years, has produced six million mt of steel in Turkey alone this year. The company, which has exported to China for the first time, has investments in Algeria, Libya, Angola, Senegal and Spain, as well as in Turkey. Stating that the company is continuing its investments in R&D, cyclical production and renewable energy resources, Mr. Tosyalı stated that this year the company introduced its green steel brand V-Green.
Tosyalı has increased its annual domestic liquid steel production capacity to eight million mt, up by two million mt, with the acquisition of fellow Turkish steelmaker Baştuğ Metalurji. The company’s global liquid steel production capacity has reached 15 million mt. In addition, the company’s direct reduced iron capacity has increased to five million mt with Algeria-based subsidiary Tosyalı Algerie commissioning the second direct reduced iron facility in Bethioua, Oran. Therefore, the company now has the largest direct reduced iron production capacity in Europe and North Africa. Tosyalı pointed out that eight percent of the direct reduced iron produced with natural gas in the world is produced by Tosyalı Holding.
