Ahmed Samir, Egypt’s Minister of Trade and Industry, held discussions with delegates from 137 global companies specializing in iron and steel production. The meeting took place at the headquarters of Suez Steel Company, an affiliate of the Misr Steel Group. Their focus was on exploring investment prospects within the Egyptian market and identifying production capacities suitable for new investments.
Minister Samir emphasized that the iron and steel industry is a cornerstone of Egypt’s economic strength, supporting infrastructure, construction, and manufacturing sectors. Egypt has made significant strides in steel production, reaching 9.8 million tons last year, solidifying its position as Africa’s largest steel producer. This achievement reflects the industry’s current strength and potential for future growth.
However, challenges lie ahead, including the European Union’s Carbon Border Adjustment Mechanism (CBAM), set to be implemented in 2026. To address these challenges, the Ministry remains committed to supporting iron and steel manufacturers in adopting cleaner production methods. Collaborating with industry pioneers, research institutions, and technology providers, they explore innovative solutions such as electric arc furnaces and green hydrogen. These efforts aim to reduce the impact of CBAM and position Egypt as a sustainable steel producer on a global scale.
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