Turkey-based flat rolled steel and steel pipe producer Tosyali Holding has announced that it will construct a new mega spiral welded pipe plant with an annual production capacity of one million mt in Algeria. Tosyali Holding chairman Fuat Tosyali stated that the new plant will produce pipes for oil, natural gas and water pipeline projects in Algeria and in North Africa in general.
According to Mr. Tosyali, Tosyali Holding has invested more than $2.25 billion in its steel plants in Algeria up to now. The company expects to complete the third phase construction works at its steel plant in Algeria and will start the fourth phase construction works for a hot rolled sheet plant with an annual capacity of five million mt and with an investment of more than $2 billion. The hot rolled sheet plant will produce hot rolled coils and sheets for the automotive, home appliance and pipe industries.
Meanwhile, the Tosyali Holding chairman also stated that overall the company’s investments in Algeria will exceed $6 billion and within five years it will be able to reach an annual production capacity of eight million mt in the country. With the completion of investments in Turkey and Algeria, Tosyali Holding’s total turnover will reach $10 billion, he said.