During a meeting between the Egyptian minister of investment and foreign trade and representatives of German plantmaker SMS Group held in Germany last week, a plan regarding the establishment of a direct reduced iron (DRI) plant in Egypt with an investment of over €1 billion was discussed, according to media reports.
The plant is planned to have an annual production capacity of 2.5 million mt and is expected to create around 1,000 job opportunities. The proposed plant’s capacity may be expanded to an annual four million mt. In addition, the parties discussed the possibility of building the plant within the Suez Canal Economic Zone due to its strategic advantages for operations.
