Production is expected to start within 18 to 24 months after obtaining approvals
The Egyptian cabinet has accredited establishing a flat steel production park, in cooperation with an international firm, with investments of $1 billion, to be pumped in two tranches, a cabinet statement revealed on September 13th.
The project will be built on a 1.5-million-square-meter area, with a production capacity of 1.8 million tons.
Production is expected to start within 18 to 24 months after obtaining approvals.
The project aims to enhance the localization of this industry in Egypt, export abroad, and meet the demand of the local market.
Moreover, the park will provide 6,500 job opportunities, including 2,000 direct opportunities and 4,500 indirect ones.