Gov Studies Proposal Of Italian Company To Establish Industrial Complex For Iron, Steel products

Prime Minister Mostafa Madbouly reviewed during a meeting on Tuesday 27/2/2024 a study proposed by the Italian company of Danieli to establish an integrated industrial complex for manufacturing developed iron and steel products in Egypt at investments worth four billion dollars.

The meeting was attended by Petroleum Minister Tarek el Molla, Planning Minister Hala el Saeed, Minister of Public Sector Business Mahmoud Esmat, Head of Arab Organization for Industrialization Mokhtar Abdel Latif, chairman of the General Authority for the Suez Canal Economic Zone (SCZONE) Walid Gamaleldin in addition to officials of ministries and bodies concerned and representatives of the Italian company in Egypt.

The proposal aims at supporting local industry of iron via benefiting from the international expertise and exporting products of iron and steel to the global markets especially the European ones, Spokesman for the cabinet Mohamed el Homosani said.

The project also aims at attracting investors to establish a factory for producing green hydrogen with investment varying between 2-3 billion dollars, he said.

The meeting tackled a study on the expected needs of the European market to estimate the volume of exports of the project, he said.

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