Turkish steelmaker Tosyali Holding will construct a new integrated plant in Osmaniye, Turkey, close to East Mediterranean ports, with an investment value of approximately $7 billion, according to Turkish daily Dunya.
Fuat Tosyalı, chairman of Tosyali Holding, stated that the new plant will be the first private sector steel plant in Turkey to produce steel from iron ore and added that the construction works will begin next year and they aim to start production by the end of the third year. The company aims to produce four million mt of crude steel in the first phase and reach eight million mt of steel production, including stainless steel, when the investment is completed.
Meanwhile, the iron ore necessary for the new plant will be extracted from mines in Kayseri, Malatya and Sivas, all in the Anatolian part of Turkey. With this project, Tosyali also aims to create 50,000 new jobs.