New Steel Industrial Complex Will Be Built in Suez Canal Economic Zone

A steel industrial complex that specialises in the manufacturing of rebar and wire rods essential in bridge and rail infrastructure will be built in the Suez Canal Economic Zone. The project will cost around USD 1 billion and will extend over 1.5 million square metres.

The project is a joint venture between the Egyptian government and a yet unnamed foreign corporation. At completion, the complex is expected to generate around 6,500 jobs. The site will have a production capacity of 1.8 million tons and will start production within 24 months of receiving official permits.

Egypt is the biggest producer of steel on the African continent and the second biggest in the MENA region, having produced 9.8 million tons of steel in 2022.