The agreement was reached during a visit to Turkey by the Minister of Mineral Resources, Oil and Gas, Diamantino Azevedo, who visited the Tosyali steel complex on Monday. It was at this complex that the president of Tosyali, Fuat Tosyali, and the chairman of the board of directors of Sonangol, Sebastião Gaspar Martins, signed the agreement.
According to a statement from the Ministry of Mineral Resources, Oil and Gas in conjunction with the press office of the Embassy of the Republic of Angola in Turkey, to which VerAngola had access, after the visit and presentation of the Turkish group's potential, Sonangol and Tosyali "reached an understanding for the Angolan oil company to become part of the new corporate structure Tosyali Iron & Steel Angola S.A", in order to promote this "strategic mining and steel project for Angola and the region".
On the occasion, Fuat Tosyali, chairman of the Turkish company, considered that Sonangol's entry into the corporate structure will allow the Kassinga project to be relaunched.
"With Sonangol's entry into the new corporate structure, the Kassinga iron and steel project will gain new momentum and is a real demonstration of the Angolan State's commitment and dedication to its implementation," he said.
According to the statement, the project is expected to begin production in 2027.
"The Tosyali Angola project, which could begin production in mid-2027, will be a significant milestone in the Executive's strategy to diversify the economy, as this important commodity will not only supply the domestic market but also for export, increasing revenue and generating jobs," the statement reads.
It should be noted that the Kassinga project "is based on the reactivation of the Jamba mining plant" in the province of Huíla, as well as the "transformation of iron into steel in the steelworks to be installed at the Sacomar Mineral Terminal" in Moçâmedes (Namibe).
According to the Ministry of Health, Diamantino Azevedo has been in Turkey since last Saturday.
On Monday, the minister was in the city of Hatay, where, at the invitation of the chairman of the Tosyali group – operator of the Kassinga project in Huíla – he completed a working day.
During his working day, according to the ministry's statement, the minister was accompanied by the chairman of the Board of Directors of Sonangol, Gaspar Martins, and the Angolan ambassador to Turkey, José Patrício, and visited the Tosyali steel complex "equipped with state-of-the-art automation technology and a port for exporting the finished product to supply the international market".
During his visit to Turkey, the minister met with his Turkish counterpart, Alparslan Bayraktar, "with whom he reviewed the current state of economic cooperation between the two countries" and discussed the prospects for the next Bilateral Joint Commission, given that the two ministers share the co-presidency of the said commission.
Both ministers expressed "availability and openness to exploring new business and partnerships in the areas they oversee, namely mining, oil and gas, in the upstream, midstream and downstream segments".
On the occasion, according to another note from the ministry to which VerAngola had access, Diamantino Azevedo invited the CEO of Turkish Petroleum to "visit Angola to begin negotiations with its counterpart Sonangol".
