September 03, 2019: Japanese transport company Mitsui OSK Lines Ltd (MOL) has announced an agreement with Tosyalı Holding A.S, a Turkish steel company to begin the research toward a strategic partnership, and in this respect signed a memorandum of agreement in the presence of Hasan Murat Mercan, Turkish ambassador to Japan, at the Turkish Embassy in Tokyo on August 30.

The companies will study the possibility of a partnership in the transport of raw materials and steel products in Tosyalı's production networks in Turkey and overseas, building a port in southeastern Turkey and further cooperation on new Tosyalı business ventures.

With over 10 million tonnes output in 2018, Tosyalı is developing the business on a broad scale both in Turkey and around the world. Last year, the company started operation of the world's largest direct reduced iron (DRI) plant in Algeria, a North African country.

The agreement embodies "comprehensive strengths that enable the provision of one-stop solutions to the various transportation needs of customers," as stated in the MOL's "Rolling Plan 2019" report 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 realise stress-free services from customers' perspective.

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