One of Turkey’s largest steel producers, Tosyali Holding, is deepening its collaboration with one of the world’s largest, China Baowu Steel Group Corp., for new generation green steel investments, the company said in a statement sent to S&P Global Commodity Insights May 24.

          After its investments in Algeria, Angola and Senegal, as well as its joint ventures with American Harsco Corp. and Japanese Toyo Kohan, Tosyali Holding has recently agreed on a strategic

partnership with Baowu and took another step toward its sustainable growth, it said.

          Tosyali said that combining its experience in green steel production with the strengths of Baowu Group would lay a good foundation for future growth and new investment, stimulating cooperation between the two companies across markets and creating further opportunities for Tosyali.

          “I believe that with our enhanced cooperation, we shall further increase our investments here and especially in the Gulf region. We shall continue to expand our cooperation in order to achieve the global targets we have set,’’ Fuat Tosyali, Chairman of the Board of Directors, said.

          Baowu Group’s President Chen Derong said: ‘’We are extremely happy to enter into a deepened cooperation with Tosyali Holding. I believe that this cooperation shall be very beneficial for both parties.”

          Tosyali Holding has been cooperating with Chinese Sinosteel Engineering & Technology Co. for more than two decades and jointly commissioned the world’s largest direct reduced iron module at Tosyali’s plant in Algeria.

          Tosyali will also focus on producing new green steel grades at its new 4 million mt/year flat steel mill in southeastern Turkey, which is scheduled to start trial production soon.

---S&P Global Commodity Insights.