Ashry Steel Group is set to build a seamless stainless steel pipe factory with investments exceeding EUR 600 mn, after securing a production license and receiving formal accreditation from the government last week, Chairman Ayman El Ashry told EnterpriseAM. The new plant will have an initial annual production capacity of 250k tons, Ashry added.

The plant is slated to come online within 24 months, a move El Ashry said would support downstream industries and ease reliance on imported inputs. Ashry Steel plans to begin site visits after the Eid Al Adha break, ahead of signing production line contracts and breaking ground on the project.

The green light comes as the government works to localize steel manufacturing, curb imports, and position Egypt as a regional export hub under a new industry strategy, Industry Minister Kamel El Wazir said during a meeting with leading domestic producers last week. The plan includes issuing new billet production licenses, redistributing surplus supply, and drafting unified industrial policies with business associations.

AND- Local steel manufacturer El Marakby Steel is planning to invest up to USD 10 mn next year — double its previously announced spending, CEO Hassan El Marakby told EnterpriseAM. The move comes as part of the group’s strategy to improve operational efficiency, expand its value-added product offerings to boost exports, and reduce its carbon footprint as the EU’s Carbon Border Adjustment Mechanism — known more commonly as CBAM — nears implementation.

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