Tosyali Algerie, one of the largest steel producers in Algeria, expects export revenues of around $700 million for this year, increasing by six times compared to 2020, according to media reports.
In the first quarter this year, Tosyali Algerie exported 230,000 mt of steel with a value of $130 million, which is a record level since the beginning of the exports activities of the company. The company focused on exports to the US, Europe and West Africa amid the stagnation of the local market due to the coronavirus.
According to the company, the increase in Tosyali’s exports was driven by the use of its maximum capacity. Tosyali Algerie board member Alp Topçuoğlu stated that the company’s exports will rise further with the commissioning of a mineral quay at the port of Oran as of the second half of 2021.
Meanwhile, Algeria has free trade agreements with Europe and West Africa, which will stimulate the company’s exports as the country is excluded from customs tariffs.
