In response to rumors regarding Egypt’s largest steel producer Ezz Steel’s intention to acquire a stake in an existing Egyptian steel producer, the company has stated that, once it makes an investment decision, it will disclose this after financial and legal due diligence of the target investment.
According to the statement, Ezz Steel’s strategy for growth is based on constantly increasing capacities, either organically, or through investment in existing companies.
Regarding the company's internal investments, Ezz Steel is currently executing a project aimed at increasing its production capacity of molten steel. This therefore ensures continuation of production and export of flat steel, the company stated.