Sonangol and the Tosyali Group reached an agreement on Monday to enhance the strategic Kassinga iron and steel project.
The agreement, finalized during the Angolan Minister of Mineral Resources, Oil, and Gas’s visit to Turkey, includes integrating Angola’s national oil company, Sonangol, into the new corporate structure of Tosyali Iron & Steel Angola SA.
Fuat Tosyali, President of the Turkish holding company, praised the move as a clear demonstration of Angola’s commitment to the project.
“With Sonangol joining the new corporate structure, the Kassinga iron and steel project will gain new momentum,” Tosyali remarked.
According to a statement, the Tosyali Angola project, expected to commence production by mid-2027, will play a crucial role in Angola’s economic diversification strategy.
The project aims to supply the national market and boost exports, contributing to increased revenue and job creation.
The Kassinga mining project will begin with the reactivation of the Jamba Mineira in Huíla and the transformation of iron into steel at a steel plant to be established at the Sacomar Mineral Terminal in Moçâmedes, Namibe province.
Steel is vital to sectors such as energy, construction, manufacturing, and transport, making it a critical component of national growth and development.
The visit to the Tosyali Group’s steel complex in Hatay, Turkey, which is equipped with cutting-edge automation technology and features a port for exporting finished products to the international market, marked the conclusion of Minister Diamantino Azevedo’s trip to Turkey.
The Angolan delegation also included Sonangol CEO Gaspar Martins and Ambassador to Turkey José Patrício.
