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Novostal-M aims to enhance cooperation with Egypt

Russian metallurgical holding Novostal-M aims to expand cooperation with Egypt, including building a new plant in the North African country.

Novostal-M aims to enhance cooperation with Egypt

Following a meeting between Egyptian Minister of Trade and Industry Ahmed Samir and a Novostal-M delegation headed by the head of the Russian steel giant Ivan Demchenko, Samir said the company is interested in establishing a steel plant in Egypt, supplying metal for Egyptian projects and building infrastructure for food warehouses.

According to the statement, the two sides also discussed cooperation in the fields of construction, nitrogen supply and fertilizer exports from Egypt to other African countries.

The minister also pointed to the possibility of the Russian company contributing to Egypt's infrastructure projects.

For his part, Demchenko confirmed the company's willingness to invest in the Egyptian market.

Demchenko noted that his company has two factories in Russia, producing about 2.8 million tons of reinforcing steel annually.


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