Türkiye's Tosyali targets nearly $9B revenue in 2025 as steel output tops 13M tons

By Fatih Kabasakal and Sibel Morrow

ISTANBUL (AA)— Türkiye’s steel producer Tosyali Holding expects steel output to exceed 13 million tons by the end of 2025, putting the group on track to close the year with revenue of almost $9 billion, a rise of about 30% from a year earlier.

“We had targeted lifting our revenue to around $9 billion in 2025, and we will finish the year very close to that level,” Chairman Fuat Tosyali said in an interview, outlining the group’s performance, investment plans, and capacity expansions across several countries.

The outlook comes as global steel markets remain under pressure from geopolitical tensions and shifting trade policies.

Tosyali said excess supply driven by China’s high production volumes has disrupted global trade flows, while additional US tariffs on Chinese steel have pushed exports into alternative markets, intensifying competition.

Those dynamics have weighed on Türkiye’s domestic market and indirectly hit exports, Tosyali said, adding that steelmakers have faced difficult conditions over the past two years. He called for a more coordinated national approach to protect local producers and export markets from unfair competition originating in the Far East.

Tosyali closed 2024 with roughly $7 billion in global revenue and production of 9.12 million tons. Output is expected to climb above 13 million tons this year.

- Expanding capacity across 3 continents

The group now has an annual liquid steel production capacity of about 15 million tons across nearly 50 facilities spanning Europe, Africa, and Asia, Tosyali said.

Investments in sustainability and advanced technology helped place Tosyali among the world’s three fastest-growing steel producers last year, he added.

Over the past five years, Tosyali has more than doubled its crude steel output, lifting its global profile.

“Today, we are Europe’s third-largest steel producer and the Türkiye-based company with the highest crude steel output,” he highlighted.

Despite disruptions caused by the February 2023 earthquakes in southeastern Türkiye, Tosyali said its Iskenderun iron and steel plant has been steadily ramping up toward full capacity.

New investments, including a second direct reduced iron (DRI) facility, have also come online at its Algeria operations, supporting higher value-added output for sectors such as automotive and home appliances.

- Spain and Libya drive growth

In Spain, production at steel pipe maker STS has risen twelvefold following its acquisition, after efficiency programs were introduced. Further investments are planned to boost output and productivity.

Libya has emerged as one of Tosyali’s most strategic investment locations. The group has established Tosyali SULB to build what Tosyali said will be the world’s largest DRI facilities in Benghazi, with a total planned capacity of 8.1 million tons.

Construction has begun on the first phase of the integrated complex, which will have a capacity of 2.5 million tons and supply hot briquetted iron for green steel production in the region and Europe.

Total investments over the past five years have exceeded $6 billion, largely focused on sustainability, Tosyali said. The company has also launched one of Türkiye’s largest self-consumption solar power projects, which is expected to meet nearly half of its energy needs once completed.

- Target is to be among top 20 global steel producers

Tosyali said the group’s strategy is built on long-term planning, shaped by expectations that globalization will increasingly favor local production in strategic sectors such as steel. Africa has been identified as a core investment region under that approach.

The company aims to rank among the world’s top 20 steel producers within five years, supported by an integrated production network stretching from Türkiye to Algeria, Spain, and Libya across the Mediterranean basin.

Tosyali said in 2026 it plans to pursue balanced growth across Europe, Africa, and Asia; expand capacity through greenfield investments in Africa; diversify export markets; and increase the share of exports in revenue.

“Our investments in R&D, advanced technology, circular production, and clean energy sources such as solar and hydrogen will continue without interruption,” he added.