11
Jun
01:00
Tosyali contracts Sinosteel to expand Algeria steelworks
Tosyali Algerie, part of Turkey’s Tosyali Holdings, has contracted China’s Sinosteel to expand capacity at its integrated steelworks from 1.6 million tonnes/year to 2.3m t/y, Sinosteel says. The expansion is part of a $3.5 billion investment plan, Kallanish notes.
Sinosteel says the value of the contract was around $508 million but did not give further details. Tosyali had said that it plans to spend $1.3 billion on increasing capacity to 2.5m t/…
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Very good overview of the weekly steel market.
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