Egypt-based long steel producer El Marakby Steel and Egyptian electrical company Elsewedy Electric have signed a memorandum of understanding to achieve strategic cooperation between the two companies in the field of sustainability by providing solutions for environmental sustainability, the two companies stated.
Under the agreement, El Marakby Steel will supply rebar for Elsewedy Electric’s construction projects, mainly in Egypt, and wire rods used in the cable and engineering industries, as well as assist the company in waste management by recycling their scrap through its steel mills.
The rebar and wire rod to be supplied will have the lowest carbon emissions at just 640 kg of carbon per metric ton of steel using scrap/EAF route, 50 percent less emissions than the DRI/EAF route and 70 percent less emissions than the BF/BOF route, SteelOrbis understands. Therefore, the products will meet Elsewedy Electric’s sustainability goals and its exports to the EU under the Carbon Border Adjustment Mechanism will increase.
