Tosyalı Holding reaches nearly $9 billion in revenue with green steel investments
Tosyalı Holding is set to close 2025 with approximately $9 billion in revenue, recording nearly 30% growth. With 15 million tonnes of liquid steel capacity across three continents, the company targets the world's top 20.
At a glance
- The company reports 15 million tonnes of annual liquid steel capacity across approximately 50 facilities in three continents and four countries.
- In Libya, Tosyalı SULB has begun first-phase investment in a three-phase complex whose DRI facilities are planned to have 8.1 million tonnes of total capacity.
- Tosyalı Holding says its sustainability-focused investments include a solar project in Osmaniye that could eventually meet approximately half of its total energy needs.
Tosyalı Holding is preparing to close 2025 with approximately $9 billion in revenue. The company recorded nearly 30 percent growth compared to the previous year while targeting total steel production above 13 million tonnes.
Holding Chairman Fuat Tosyalı, in a statement to Anadolu Agency, emphasised that the company maintained its strong performance despite uncertainties in the global economy. He reported that consolidated revenue, which stood at around $7 billion in 2024, would close very close to this year's target.
China-driven supply surplus pressures markets
Tosyalı drew attention to the serious pressure on global steel market balances over the past two years. China's supply surplus, spread across world markets through high production volumes, has deeply shaken the established balances in international trade. US additional tariffs on China have further sharpened this picture, as Chinese products aggressively shifted to alternative markets.
Noting that this situation creates pressure on the domestic market in Türkiye and indirectly harms exports, Tosyalı underlined the need for practices that support domestic producers and balance the competitive environment to be maintained with determination.
50 facilities across three continents, 15 million tonnes capacity
Tosyalı Holding today operates in Türkiye, Algeria, Libya, and Spain. With annual liquid steel production capacity reaching 15 million tonnes across approximately 50 facilities spanning three continents, the company is Europe's third-largest steel producer.
Having increased its global crude steel production by 110 percent over the past five years, the holding has managed to enter the top three fastest-growing steel producers in the world. With this performance, Tosyalı carries the distinction of being the only company that has continuously risen among the world's top 50 steel producers.
Strategic moves from İskenderun to Libya
Despite the challenges created by the 6 February 2023 earthquakes, the Tosyalı Iron and Steel İskenderun Facility gradually reached full capacity after its opening. At the Algeria complex, new investments including the second Direct Reduced Iron (DRI) plant were commissioned. These investments open the way for the company to supply more products to the white goods and automotive sectors.
In Spain, the efficiency programmes implemented following the acquisition of STS produced remarkable results. Production initially increased 12-fold.
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The investment in Libya constitutes one of the holding's most strategic moves. Tosyalı SULB, established in Benghazi, is constructing the world's largest DRI facilities with a total capacity of 8.1 million tonnes. Investments for the first phase of the three-phase integrated complex have begun. The facility will supply the hot briquetted iron (HBI) that Europe needs for green steel.
Pioneer position in green steel
Having invested over $6 billion in the past five years, Tosyalı Holding allocated the majority of this amount to sustainability-focused projects. The first step for one of Türkiye's largest self-consumption solar energy projects was taken in Osmaniye during the year. Once investments are completed, the company will be able to meet approximately half of its total energy needs from solar.
Fuat Tosyalı emphasised that the company is now recognised as one of the pioneers of green steel production globally:
By sourcing raw materials from our own resources and producing end-to-end, our product-based carbon emissions are nearly 50 percent lower compared to our competitors and accepted reference values.
Target: entering the top 20
Tosyalı Holding aims to enter the world's top 20 steel producers within the next five years. The company is advancing toward this goal with integrated facilities that feed each other across a broad geography in the Mediterranean Basin — from Türkiye to Algeria, Spain to Libya.