Germany-based plantmaker SMS Group has announced that Egypt-based long steel producer El Marakby Steel has officially opened its new compact steel plant in Giza supplied by SMS Group. The electric steelworks has an annual capacity of 350,000 mt and comprises a raw material handling system, a 45-mt electric arc furnace, a ladle furnace and a three-strand billet caster.
“By producing billets in-house, we create value locally and strengthen our competitiveness by reducing our dependence on hard currencies. In addition, the new plant allows us to expand our range of steel grades and produce rebars extremely flexibly,” stated Hassan El Marakby, CEO of El Marakby Steel.
By producing reinforcing steel in the new compact steel plant, El Marakby is supporting the road network expansion in Egypt.