Sinosteel to build steel plant for Turkey-based Tosyali in Algeria

Chinese contractor Sinosteel Engineering and Technology has signed a $508 million deal to build an integrated steel plant for Turkish steelmaker Tosyalı in Algeria, according to media reports.
 
The new plant reportedly will reduce Algeria's steel imports by $10 billion per year.
 
Tosyalı already operates a 900,000 mt per year rebar mill in Oran, Algeria, launched in June 2013 with an annual crude steel capacity of 1.25 million mt per year.