Organized by Turkey’s Foreign Economic Relations Board in coordination with Turkey’s Trade Ministry and the African Union Commission 2rd Second Turkey-Africa Economy and Business Forum held on Oct. 10 in Istanbul with the participation of responsibles from public and private sector.
Zimbabwe, Senegal and the African Union all signed deals about with both private and public concerns with parties in Turkey during the the forum.
One of the deals was a memorandum of understanding (MoU) was signed by Senegal’s Mines and Geology Ministry and Turkey’s Tosyalı Holding. According the deal Turkish company will invest in iron and steel in the West African country.
In the first phase of the investment in Senegal, the project will produce rebar and wire rod and will meet all needs of Senegal. In the later phases of the project, the facility which fill produce final product with using the country’s ore will be commissioned. The facility also will be the only steel mill of the country. After the commissioning The plant will also meet steel demand of the countries in the region.
Chairman of Tosyalı Holding Fuat Tosyalı commented about the project: “After deciding the location of the facility We will start construction until end of the year.”
Tosyalı stated that as a group producing with more than 20 facilities in three continents of the world, they have been working with the aim of becoming a world brand in iron and steel field and said: “As a company born and raised in this land, our highest priority is to contribute to the economy of Turkey. This is behind all of our investments. In this context, we have a vision of being a world brand and the world’s leading manufacturers in this sector. We have been negotiating with the Senegal government for a while now. this project has also recently come to the agenda during the visit of our President to Senegal. Now with the encouragement of our president, we are happy and proud to sign the agreement.”
