Egypt's Metallurgical Industries Holding Co. is considering applying for a license to establish a rebar mill, according to a report published by ArabSteel which cited an official at the company. The company has already conducted a study for the project, the report said. The project is estimated to cost around EGP 7 billion ($1.23 billion).
According to the report, some partnerships are likely to be formed with some investors from the GCC region, who have expressed their willingness to share a rebar production project with the company.
As SteelOrbis previously reported, Egypt's Ministry of Trade and Industry intends to offer a tender in October this year for a license to produce rebar at a nominal annual capacity of two million metric tons as well as one million metric tons of billet per annum, which is aimed at meeting the rising market demand for rebar, especially as the annual rebar consumption rate is increasing by seven percent annually in Egypt.