Fuat Tosyali, chairman of Turkey-based flat rolled steel and steel pipe producer Tosyali Holding, stated that the company plans to put six new plants into operation soon and will continue investments both in Turkey and abroad, according to a report from the Turkish daily Dunya. Mr. Tosyali stated that, with the company’s recent investments, its annual production capacity, which was previously 3.5 million mt, has now exceeded six million mt, adding that they aim to reach an annual capacity of 10 million mt by 2020.
According to the Tosyali Holding chairman, the company will focus on value-added products and in this context they plan to invest in longitudinal submerged arc-welded (LSAW) pipe production with the aim of replacing imports. In addition, as regards value-added products, the company also plans to invest in a plant with an annual production capacity of 2.5 million mt for the production of spring steel wire and steel bolts for the defense industry and industrial buildings. With this investment, Tosyali Holding aims to increase exports to Turkey's neighboring countries, targeting an export value of $300 million in the short term.