Somasteel has launched an expansion project aimed at achieving full vertical integration, with a total investment of MAD 760 mln (USD 83 mln), the company said.
The project involves the construction of a steel meltshop equipped with an electric arc furnace (EAF) in Nouaceur province, enabling Somasteel to produce up to 400,000 tons of billets per year. The new facility will allow the company to integrate its production chain from scrap recycling to rebar manufacturing.
Somasteel said the investment will complete its industrial process and strengthen operational efficiency by reducing reliance on external billet supplies.
Founded in 2007 and headquartered in Casablanca, Somasteel is a rebar producer with an annual production capacity of around 365,000 tons.
1 USD / 9.12 MAD
