Egyptian Prime Minister Dr. Mostafa Madbouly has convened a number of ministry officials and chairmen of domestic iron and steel companies to discuss the challenges that the Egyptian iron and steel industry is facing and steps to strengthen it further, as well as expanding related industries, according to an official statement released by the Prime Minister’s Office.
Dr. Madbouly highlighted that Egypt is committed to become a regional hub for iron and steel production by increasing its competitiveness in several global markets and expanding into industries in which it has a competitive advantage and technological expertise. He also stated that the government is continuing its efforts to support the industry and provide incentives to attract more investment.
According to local media reports, the government will issue a number of licenses for billet production that meet the industry’s special specifications. Moreover, domestically produced billets will be distributed in phases to rolling mills until the new mills are operational, thereby ensuring market stability and achieving self-sufficiency.
