Addis Ababa January 09/2018 The Turkish Tosyali Holding Company has expressed its interest to invest in steel production in Ethiopia.
Leader of the delegation of Tosyali Company, Fuat Tosyali, discussed today about steel investment in Ethiopia with Foreign Affairs State Minister Dr. Aklilu Hailemichael.
Company Chairman Fuat Tosyali told journalists that his company is ready to engage in producing steel in Ethiopia.
“We had a very positive meeting with the State Minister about the investment environment and conditions here in Ethiopia. Our meeting in the morning with the Commissioner of Investment Commission was also extremely positive,” he said.
Tosyali stated that the holding group has an investment in Algeria that exceeds over 2 billion dollar and is becoming a net exporter of steel products.
“Likewise, with the investment we are planning in Ethiopia we are planning on substituting the imports of steel production in Ethiopia”, he added.
He also highlighted that the company will supply some steel products for several local companies when it starts production.
The chairman also mentioned that the company will start the investment in the very near future as it has very fast moving investments in other countries.
State Minister Dr. Aklilu said the company will have a great role to creating job opportunities while supplying its products to local companies.
The Turkey based TOSYALI Holding company was established in 1952 and has been engaged in producing flat steel and steel pipe products.
The company has 25 steel manufacturing factories in USA, Europe, Africa, and Middle East countries.