Sep 3, 2019: Japanese shipping carrier Mitsui OSK Lines announced an agreement with Turkish steel company Tosyali Holding.
Based on the agreement, the companies will study the possibility of a partnership in the transport of raw materials and steel products in Tosyali's production networks in Turkey and overseas, building a port in southeastern Turkey and further cooperation on new Tosyali business ventures.
Tosyali is developing the business on a broad scale both in Turkey and around the world.
Last year, the company started operation of world's largest direct reduced iron (DRI) plant in Algeria. (DRI is an iron produced by reducing iron ore directly, by using natural gas as the main energy source.)
The agreement embodies "comprehensive strengths that enable the provision of one-stop solutions to the various transportation needs of customers," as stated in the "Rolling Plan 2019" (Note) management plan, and looks forward to contributing to the expansion of Tosyalı's businesses.
MOL, as a result of this cooperation will strengthen its business structure targeting Turkey and Africa, and continue working to realize stress-free services from customers' perspective.
The two companies signed a memorandum of agreement in the presence of Dr Hasan Murat Mercan, Turkish Ambassador to Japan, at the Turkish Embassy in Tokyo on August 30.