Moving Into the Next Phase of Construction

I wanted to share a quick update on the progress we're making at our Direct Reduced Iron(DRI) complex in Benghazi.

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We've now started deep foundation casting at the project site in Ras Al-Mangar. Reaching this stage has taken months of planning, engineering work and site preparation, so it's good to see that work is now moving into the next phase.

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At the moment, our teams are concentrating on the foundations and the supporting infrastructure that the rest of the facility will be built on. Once this work is complete, we'll be able to move ahead with the construction of the project's main industrial buildings and operational facilities.

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When people visit a construction site, they often look for buildings going up or large equipment being installed. In reality, some of the most important work happens before any of that becomes visible. A project like this depends on getting the groundwork right and that's exactly what our teams are focused on today.

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This project is being developed through our partnership between SULB Libya and Tosyali, and together we're working toward creating what is expected to become one of the largest industrial developments currently under construction in Libya. I believe its impact won't be limited to the project itself. It has the potential to support local industry, encourage future investment, create jobs and strengthen Libya's manufacturing sector for many years to come.

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There is still plenty of work ahead and we know that a project of this scale doesn't happen all at once. Every phase has its own challenges, but every phase also brings us a little closer to the goal we've been working toward for a long time. I'll continue sharing updates as construction progresses and as we reach the next stages of development.

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References:

1.Alushibe News. “Alushibe News.” Alushibe News, www.alushibenews.com

2.“Tosyali Sulb Steel Industries Joint Company.” Tosyali Holding,

www.tosyaliholding.com.tr/en/our-scope-of-activity/group-companies/international-subsidiarie

s/tosyali-sulb-steel-industries-joint-company