Egyptian steel producer Ashry Steel Group plans to spend over €600 million ($685 million) on a new stainless steel pipe plant, according to local media. Company chairman Ayman El Ashry announced the project after Egypt's government granted the necessary production permits and official certification. The plant will produce seamless stainless steel pipes with a starting capacity of 250,000 mt per year and is expected to begin operations within two years.
The investment supports Egypt's broader goal to boost domestic steel production, reduce foreign imports, and establish the country as a major steel exporter in the region. Industry minister Kamel El Wazir outlined this strategy during recent discussions with top local steel manufacturers, which includes plans for new production licenses, better supply distribution, and coordinated industry policies developed with business groups.
