According to Turkish news agency Anadolu Agency, Tosyalı Holding has signed a good will agreement with the government of Senegal to invest in a steel plant in West Africa. Tosyalı Holding board chairman Fuat Tosyalı said that the construction works will start at the end of this year following the selection of the site.
In the first phase of the investment, the steel plant in Senegal will produce rebar and wire rod, using billets. In the next phases, the first melt shop in Senegal will be commissioned and it will use iron ore which is sourced in Senegal. The steel plant will become a fully-integrated steelmaking complex.
Initially, the steel plant will cater to the rebar and wire rod needs of Senegal, before responding to demand for different product groups in different countries in West Africa later on.