Expected investment of $2.5 billion, with commercial production due in early 2028
Libya – An economic report has forecast that the Turkish-Libyan Tosyalı–Solb project to produce low-carbon iron in Benghazi will attract investment of $2.5 billion.
Commercial production in 2028
The report, published by Reuters and followed and translated by Al-Marsad for its main economic points, quoted the project’s chairman, Ahmed Jadallah, as saying commercial production is expected to begin in early 2028.
90% of output for export
Jadallah said about 90% of production would be earmarked for export, while the complex also plans to produce reinforcing steel and pipes for the Libyan market.
He added that Libya’s long Mediterranean coastline gives it a strong position to serve African and European markets, where rising operating costs and environmental compliance requirements are creating new opportunities.
2.7 million tonnes in the first phase
Jadallah said gas supply arrangements for the project’s first phase have been completed. That phase will produce about 2.7 million tonnes a year of direct reduced iron.
He also said work is under way to build a dedicated power station to meet a large share of the complex’s electricity needs.
