Algioshi Steel is planning to open two new production facilities in the Suez Canal Economic Zone and invest EGP 250 mn in a new production line at its existing facility this year, Chairman Tarek Algioshi tells Al Shorouk. The company is in talks with local banks to finance its planned expansion. Output from its current facility and new production line will be used locally, but Algioshi plans to look towards exports by 2019, especially to African markets.

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