An Egyptian-Qatari partnership is planning to build a $100 million iron and steel plant in Qena in southern Egypt. The factory, which aims to apply for a licence in the first half of 2025, will start production in 2026. Most of the production will be exported to regional and international markets.
An investment partnership consisting of Egypt and Qatar has accelerated its efforts to build an iron and steel plant worth a total of $100 million in Egypt's Qena District. The factory, which is currently under construction, is expected to apply to the Ministry of Industry and Technology (Ministry of Industry and Trade) for a licence to produce rebar and operate in the iron and steel sector in the first half of 2025.
Prior to the commissioning of the plant, the company plans to purchase the necessary production lines in cooperation with the Italian Danieli Group.The target date for the factory to start production is set for early 2026.
Looking at the details of the partnership, it is stated that the Egyptian investor side will provide the land and undertake the construction of the factory. This will allow Egypt to have a 51% share in the project, while the Qatari side will finance the project and undertake important expenses such as production lines and raw material supply.However, the Qatari side will have a smaller share of 49 per cent compared to Egypt.
Most of the production of this new iron and steel plant will be directed to foreign markets. Approximately 80 per cent of the production will be exported to the Arab world, Gulf countries, Africa and Turkey. The plant plans to sell high-quality rebar products to these regions, while the remaining 20 per cent will be sold in the local market. This strategy will enable the factory to establish a strong foothold not only in the domestic market, but also in regional and international markets.
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