Sinosteel Equipment & Engineering Co., Ltd. ("Sinosteel MECC"), a wholly-owned subsidiary of Sinosteel International, officially signed an EPC contract with TOSYALI Group for the Phase IV Integrated Steel Plant Project in Algeria on December 1, 2021, with a contract value of USD 1.096 billion (approximately RMB 6.986 billion). This is another major progress in international business after Sinosteel MECC signed the 1800mm hot continuous rolling project with TOSYALI Group in Turkey, and it is also a new step for Sinosteel MECC to actively build a green "Belt and Road" together.
According to the contract, Sinosteel MECC will build a new direct reduction iron workshop with an annual capacity of 2.5 million tons, an electric furnace steelmaking plant with an annual capacity of 2.3 million tons and a 1800mm production line for hot continuous rolling for the customers; it will be responsible for the project design, equipment and material procurement and supply, engineering construction, equipment installation and commissioning services, etc.
Among them, the duration of the direct reduction iron project is 30 months, and that of the steel making and hot continuous rolling project is 24 months. As the third integrated low-carbon and green steel plant constructed by Sinosteel MECC overseas, the project, when completed and put into operation, will greatly enrich the customer's product line and improve its market competitiveness in the Mediterranean and surrounding regions. TOSYALI Steel Plant in Algeria will also become the largest steel producer in North Africa.
Mr. Lu Pengcheng, Chairman of Sinosteel International, witnessed the signing of the contract - Mr. Fuat TOSYALI, Chairman of TOSYALI Group (the third from left) and Mr. Suhat KORKMAZ, President of TOSAYLI Group (the second from left), Hua Guanglin, Executive Deputy General Manager of Sinosteel International and General Manager of Sinosteel MECC (the second from right) took a photo together in a cordial and friendly manner
Sinosteel International will overcome the difficulties and strive to make the project a benchmark through the whole life cycle of green and low-carbon solutions to return the trust of customers and contribute to the sustainable development of TOSYALI.