On December 1, 2021, Sinosteel Equipment Co., Ltd. ("Sinosteel Equipment"), a wholly-owned subsidiary of Sinosteel International, and TOSYALI Group formally signed an EPC contract for the Algeria Phase IV integrated steel plant project, with a contract value of US$1.096 billion (Approximately RMB 6.986 billion).

This is another major progress made in international business after Sinosteel Equipment signed the TOSYALI Group Turkey 1800mm hot strip project, and it is also a new step taken by Sinosteel Equipment to actively build a green belt and one road.

Seize the opportunity and break out against the trend

At present, the global epidemic fluctuates repeatedly, the recovery of the world economy is still facing uncertainty, and international business is subject to multiple challenges and tremendous impacts in the "post-epidemic era". Since April 2021, Sinosteel Equipment and TOSYALI have conducted technical communication and business negotiation for half a year through remote means.

At the end of October 2021, Hua Guanglin, the executive deputy general manager of Sinosteel International and the general manager of Sinosteel Equipment, personally led a team to TOSYALI headquarters to consult with customers on key details such as the final technical business. In the end, Sinosteel Equipment successfully signed the project with advanced technology, rich and solid international engineering experience, good cooperation foundation and high-quality service.

According to the contract, Sinosteel Equipment will build a direct reduced iron workshop with an annual output of 2.5 million tons, an electric furnace steelmaking workshop with an annual output of 2.3 million tons, and a 1800mm hot strip production line; responsible for project design, equipment and material procurement and supply, Engineering construction, equipment installation, commissioning services, etc. Keywords: One Belt One Road, One Belt One Road News, One Belt One Road Project, Overseas Projects

Among them, the construction period of the direct reduced iron project is 30 months, and the construction period of the steelmaking and hot rolling project is 24 months. As the third low-carbon green integrated steel plant undertaken by Sinosteel Equipment overseas, after the project is completed and put into production, it will greatly enrich the customer's product line and improve its market competitiveness in the Mediterranean and surrounding regions. TOSYALI Algeria Steel Plant will also become the largest steel producer in North Africa.Editor/XuNing