Egyptian Prime Minister Dr. Mostafa Madbouly recently chaired a high-level meeting to address the challenges and development mechanisms of the steel industry. He emphasized that the government's top priority is to position the sector as a regional production and export hub, noting the industry’s significant added value across areas like infrastructure and engineering.
Minister of Industry and Transport Kamel El-Wazir, Minister of Supply Dr. Sherif Farouk, CEO of the General Authority for Investment and Free Zones Hossam Heiba, and several industry representatives attended the meeting. They expressed appreciation for the government’s clear vision and support, stating their readiness to collaborate through public-private partnerships.
In this context, Minister El-Wazir announced that new licenses will be granted for billets with specific technical features, targeting the demand for seawater-resistant, earthquake-proof, and weldable steel. A temporary plan will also be implemented to supply excess billets from existing manufacturers to rolling mills until new production facilities become operational.
The government’s strategy focuses on boosting local production, reducing import dependency, and enhancing export capabilities. By revitalizing the steel sector, Egypt aims to ease foreign currency pressures and promote sustainable economic development.
The meeting also addressed registering unlicensed operations, integrating the supply chain, and increasing the use of local inputs. El-Wazir stated that a unified industrial policy framework would be established, with all producers expected to comply, and a technical committee will be formed.
Comments
No comment yet.