Egypt’s steel industry is seeking more development opportunities

Recently, Egyptian Minister of Trade and Industry Ahmed Samir met with representatives from 137 international steel companies at the headquarters of Suez Steel to discuss investing in Egyptian steel projects.

Ahmed Samir stressed the importance of the steel industry in the country's economic development. The country has consolidated its leading position in the African region by achieving crude steel production of 9.8 million tons in 2023. The Egyptian government will continue to prioritize the development of the industry and focus on steel export opportunities arising from global infrastructure projects. Economic growth in Africa has also driven local demand for high-quality steel. In addition, the Carbon Border Adjustment Mechanism (CBAM) implemented by the European Union has brought challenges to the country's steel exports. Egypt must promote the low-carbon transformation of the steel industry to maintain its competitive advantage. Egypt’s Ministry of Trade and Industry remains committed to supporting local steelmakers in adopting cleaner production methods. They are currently working with industry research institutions and technology providers to explore low-carbon options such as electric arc furnaces and green hydrogen. Simplified export procedures, favorable trade agreements and financing mechanisms help improve the competitiveness of Egyptian steel exporters. In addition, investments in research and development, including green steel production and resource-saving technologies, also contribute to the country’s development advantage.