Egyptian steelmaker Elmarakby Steel plans to invest EGP 1 bln (USD 21.15 mln) to expand its product portfolio, according to local media reports.
The investment will fund a new plant in the industrial zone of New October City, dedicated to producing cold-drawn wire rod, a key input the company has previously relied on imports for, chairman Hassan Elmarakby said. Construction is expected to begin shortly after signing, with the new production lines scheduled to come on stream by the end of 2026.
Elmarakby added that the company is also implementing an expansion programme launched in 2025 to modernize several production lines, improve operational efficiency, and reduce carbon emissions, supporting the competitiveness of its products in export markets amid tightening sustainability requirements.
The chairman noted that exports rose by 40pct YoY to around USD 100 mln in 2025, with North Africa, the Gulf, Europe, the Balkans, and South America among the company’s key export destinations. He cautioned, however, that some African markets have recently imposed new fees despite free trade agreements, partly weighing on export flows.
Separately, data from the Export Council for Building Materials, Refractories and Metallurgical Industries showed that Egypt’s cast iron and steel exports totaled about USD 1.71 bln in the first eleven months of last year, down 18pct from USD 2.09 bln in the same period of 2024.
1 USD / 47.3 EGP
