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Tosyali Holding, one of the leading Turkish steelmakers, has set in motion a $2.5 billion investment program aimed at lifting the company into the world’s top 20 steel producers, Chairman Fuat Tosyali announced, outlining a broad expansion strategy spanning Africa and Türkiye.
A large share of the investment is focused on Algeria, where Tosyali is expanding with an additional 3 million tons of capacity, set to double daily output from 50,000 to 100,000 tons within 30 months.
The company is allocating 700,000 tons of its 1.6 million-ton flat steel capacity in Algeria to automotive-grade production, with deliveries starting in the third quarter and aimed at meeting strict surface quality standards.
Once completed, Tosyali Algerie is expected to reach 9.5 million tons of annual capacity, becoming a fully integrated hub across all steel segments.
Tosyali Holding has a liquid steel production capacity of 15 million tons, operates nearly 50 facilities across three continents, and employs around 15,000 people, according to its website.
In 2024, the company rose to 46th place in global rankings and, with a 54.3% increase in production, became one of the world’s top three fastest-growing steel producers, while maintaining its position as Türkiye’s largest steelmaker and Europe’s third-largest, according to the World Steel Association.
The group is widening its footprint across Africa with new projects in Libya and Angola, reinforcing its ambition to build an integrated steel ecosystem on the continent.
In Libya, Tosyali has initiated plans for an 8.1 million-ton Direct Reduced Iron (DRI) facility, expected to become one of the largest globally and a key base for green steel production.
Meanwhile, in Angola, the company is preparing to develop iron ore reserves estimated at 2 billion tons, targeting annual production of 10 million tons.
These investments aim to connect mining operations directly with steel production, creating a vertically integrated structure from raw material to finished product, he highlighted.
Tosyali also signaled potential expansion in Europe, hinting at new acquisitions or investments as regulatory changes create fresh opportunities.
The group previously increased output 13-fold at its Spanish facility following the acquisition, and similar moves may follow. "We are in discussions and could see developments toward the end of the year," Tosyali indicated.
Revenue is expected to exceed $10 billion this year, up from $9 billion previously, while exports are projected to stabilize around $3 billion.
Despite expansion plans, Tosyali pointed to mounting pressure from low-cost steel imports, particularly from Asia, warning that uncontrolled imports could undermine the domestic industry.
He argued that protective measures similar to those in Europe and the United States may be necessary, adding that Türkiye currently faces significant exposure to dumped products from the Far East.
Tosyali maintained that Türkiye does not require additional steel production capacity, pushing back against the idea of new foreign-led investments in the sector.
"If investment is needed, domestic producers have the capability," he stated.
Türkiye is among the world's top 10 largest steel producers with 38.1 million tons in 2025, overtaking Germany. The company exported 15.1 million tons of steel and steel products in 2025, valued at $10.2 billion.
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