Tosyalı Holding and Toyo Kohan signed a cooperation agreement regarding steel production in Turkey

Tosyalı Holding, one of the largest steel producers in Turkey, has laid the foundations of a new factory in collaboration with the Japanese giant Toyo Kohan in the city of Osmaniye. Prime Minister Ahmet Davutoglu participated in the ceremony accompanied by Turkish and Japanese officials.

Davutoğlu pointed out that 2015 is the 125th anniversary of the Ertuğrul frigate’s voyage to Japan. Which marked the beginning of Turkish-Japanese relations. Davutoğlu also declared himself satisfied with the fact that economic relations with Japan focused on products with high added value.

Collaboration between the largest steel producers in Turkey and Japan

The Tosyalı-Toyo steel plant, which was initiated by a Turkish-Japanese joint venture, will be the first steel production area with advanced technology in Turkey. This factory will export steel to Europe, Asia and Africa. The investment will allow the production of steel worth 500 million dollars in Turkey, steel that is currently supplied from outside the country. This is Toyo Kohan’s first investment in the Middle East as well.

The investment will also make a significant contribution to employment. Meaning approximately 4,000 new jobs in the region. Added to the 6,000 jobs already offered by Tosyalı Holding in Turkey, Algeria and Montenegro. „Thanks to the new investments, we expect this figure to exceed 10,000 in the next three years.” Said the CEO of Tosyalı Holding, Fuat Tosyalı. Currently, Tosyalı Holding offers 3,500 jobs in Turkey.

Tosyalı mentioned that they currently produce 5,000 meters of pipes per minute and have set production targets for 2017 and 2020 at 6 million tons and 10 million tons, respectively. Tosyalı Holding is one of the main suppliers of the Trans Anatolian Gas Pipeline (TANAP). Which is one of the most important energy projects in Turkey and in the region.

The CEO of Toyo Kohan, Sumida Hirohiko stated that the annual production of the factory in Osmaniye will be the same as the factory in Japan. He added: „This space will be Toyo Kohan’s second most important, after the factory in Kudamastu. With this investment, we aim to expand into new markets in Turkey. „

Tosyalı Holding Company

It was founded in 1952 to produce stove pipes. And it became a world-class steel producer. Being certified by the American Petroleum Institute. It also produces pipes used in shale gas drilling operations in the USA. The company made exports of over 550 million dollars in 2014 and intends to reach an export volume of 805 million $ in 2015. It aims to increase this figure to 1.5 billion $ in 2023, when the Republic of Turkey celebrates its 100th anniversary.

Source: http://www.dailysabah.com/economy/2015/01/04/current-account-deficit-to-drop-by-500-million-with-new-investment-in-steel