Benghazi – An economic report expects the Tosyali-Sulb Turkish-Libyan project in Benghazi to attract $2.5 billion in investment for the production of low-carbon iron.

Commercial production is projected to begin in early 2028. According to project chairman Ahmed Jadallah, about 90% of output will be exported. The complex also plans to produce rebar and pipes for the Libyan market.

Jadallah added that Libya’s long Mediterranean coastline gives it a strategic position to serve both African and European markets. Rising operational costs and stricter environmental regulations are creating new opportunities.

He explained that arrangements for gas supply to the project’s first phase are complete. This phase is expected to produce around 2.7 million tons of direct reduced iron annually. Work is also underway to build a dedicated power station to supply much of the plant’s electricity needs.