Ashry Steel has announced plans to establish a new factory dedicated to the production of seamless steel pipes, with investments exceeding EUR 600 million. The announcement followed the official issuance of the production license, the completion of all administrative procedures, and the receipt of a letter of credit from the government.
Group Chairman Ayman Ashry stated that the factory is scheduled to become operational within 24 months, with an initial annual production capacity of approximately 250,000 tons. He emphasized that the project will support local manufacturing industries and reduce dependency on imported raw materials by increasing domestic pipe production.
The group aims to begin site visits after the Eid al-Adha holiday, followed by the signing of production line contracts and the commencement of implementation phases.
This large-scale investment aligns with the government’s recent industrial strategy, which was outlined during a high-level meeting last week with major domestic steel manufacturers. The strategy focuses on localizing the steel sector, reducing reliance on imports, and positioning Egypt as a regional hub for iron and steel production and export.
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