Egypt’s cabinet of ministers has announced that it plans to invest $1 billion to build an integrated complex to produce flat steel with an unidentified international company with the aim to increase domestic production and exports.
The complex, which will have an annual production capacity of 1.8 million mt, will start production within one year following the required approvals.
The project, which will cover an area of 1.5 million square meters in the Suez Canal Economic Zone and will be implemented in two phases, will create 6,500 jobs.
