Turkish steel conglomerate Tosyalı has signed an agreement with the Libya United Steel Company for the Iron and Steel Industry (SULB) to establish a Direct Reduced Iron (DRI) plant in the Libyan city of Benghazi, according to an Anadolu Agency (AA) report Thursday. According to a statement made by the company, Tosyalı, a global green steel producer, has started a new steel investment in the North African country following its investments in the domestic market, Algeria, Senegal, Angola and Spain. As part of the agreement between Tosyalı and SULB, a new company called Tosyalı-SULB has been established in Benghazi, the report said. "The agreements we signed today are both a major move for the future of the two groups and will bring Libya (Benghazi) and Türkiye closer together economically," Gadalla said. "This investment, which will enable Libya (and) Benghazi to take its place as an important player in the world steel production league, will also have a special place in terms of green steel and decarbonization."
