Steel News
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IFC Approves $25 Million Loan to Support Green Steel Production in Egypt
The IFC will also provide advisory support to help Kandil Steel develop a decarbonization program to reduce its carbon emissions.
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Egyptian steel titan Ezz Dekheila re-buys listed shares for nearly EGP 8.7 bln
Al Ezz Dekheila Steel Alexandria, Egypt's biggest steel manufacturer, has bought 6.95 million of its listed shares from shareholders for EGP 8.69 bln.
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IFC approves $25 mln loan to boost Egypt's sustainable flat steel manufacturing
The International Finance Corporation (IFC) has approved a $25 million loan to Kandil Steel company to support sustainable flat steel processing.
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Egypt to build $1 bln steel complex at SCZone
The Egyptian Cabinet announced in a statement on Wednesday the approval of building a $1 billion steel industrial complex extending 1.5 million square
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Beshay Steel sells minority stake to NSPO
Mostafa Madbouly, announced in a cabinet statement that Egypt will set up an integrated industrial complex for the production of flat steel.
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Egypt eyes issuing licenses for rebar, flat steel production in 2024
The Russian metallurgical firm Novostal-M Holding is planning to pump initial investments ranging between $400 and $500 million.
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Russian steel giant Novostal-M seeks to expand in Egypt: Minister
Egypt’s imports from Russia increased to $4.1 billion in 2022, up by 15.5 percent in 2021.
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Egyptian Ezz Dekheila Steel seeks loans to compensate shareholders after delisting
Al Ezz Dekheila Steel Alexandria, Egypt's biggest steel manufacturer, is seeking syndicated loans in foreign currency.
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Egypt's iron and steel exports grow by 46% in 5 months
The report indicated that a total of 69 countries received imports of iron and steel from Egypt during the January-May period.
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Egypt: Ezz Steel moves to losses in Q1
Ezz Steel is an Egypt-based manufacturer and trader of steel and related products.
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Egypt steel production slows amid dollar shortage, declining demand
Egypt’s steel production has slowed since the beginning of the year as a result of a foreign currency shortage and a decline in local demand.
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Egypt’s steel factories face shutdowns
El Garhy Steel has stopped production since the beginning of the current year due to the lack of the required materials.
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Two Chinese companies offer to build $300 mln iron complex in SCZone
Two Chinese companies presented an offer to the Egyptian government to launch a $300 million steel complex at the Suez Canal Economic Zone (SCZone).
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Fitch Ratings: Egypt 2nd largest steel producer in MENA region
This came in a report published by the Cabinet’s Information and Decision Support Center (IDSC) earlier in April.
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FRA issues regulations for investment funds in minerals
The Board of Directors of the Financial Regulatory Authority issued several regulatory decisions related to investment funds in minerals.
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Egypt emerges as top steel producer in Africa, 2nd in MENA
The report said Egypt has an ambitious target to increase mining exports to $10 billion by 2040.
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Ezz Steel registers $214.8mln consolidated profits in 2022
In the first nine months (9M) of 2022, the EGX-listed company witnessed 52% YoY higher consolidated net profits.
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China's Xinxing to invest $2 bln in Suez Canal Economic Zone- Egyptian cabinet
Chinese company Xinxing Ductile Iron Pipes intends to invest $2 billion in iron and steel plants in the Suez Canal Economic Zone.
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Egyptian Iron & Steel ups stake in Egytrans for $109,191.94
Egyptian Iron & Steel bought one million shares in Egytrans at an average price of $0.11 per share.
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Iron prices in Egypt witness new increase starting Monday
Al-Zaini revealed that the price of iron in Egypt for the consumer has reached about EGP 25 thousand per ton.