Hassan El Marakby, CEO of Elmarakby Steel, one of Egypt’s leading steel product manufacturers and suppliers, has shared some of the company’s future plans.
Accordingly, Mr. El Marakby stated that the company plans to increase its rebar exports to 140,000 mt this year, with its 2024 rebar exports amounting to 120,000 mt worth $80 million. Furthermore, it aims to increase its exports to Brazil to 40,000 mt, compared to 10,000-15,000 mt recorded in 2024, he said, while Elmarakby Steel has set the target to expand into 40 countries. Additionally, over the past two years, its local sales have risen by 15 percent.
Meanwhile, the company plans to invest EGP 1 billion ($19.74 million) over the next two years to increase its renewable energy use, reduce its emissions and as well as to prepare for the EU’s Carbon Border Adjustment Mechanism (CBAM) that will come into force next year. According to Mr. El Marakby, Elmarakby Steel’s carbon footprint per ton is the lowest, thanks to the use of scrap and clean technologies during production processes.
Ultimately, the company is improving the quality of steel products and is expanding its portfolio. It is also in search of acquisition opportunities to increase its productivity and add value to itself.