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Egypt Eyes $4 Billion Iron and Steel Industrial Complex with Italian Firm

Explore Egypt's ambitious plan to revolutionize its iron industry with an integrated industrial complex and green hydrogen production facility.
29.02.24 | Source: bnnbreaking

Egyptian Prime Minister Mostafa Madbouli has recently delved into a proposal from the Italian company Danieli, aiming to revolutionize Egypt's iron industry by establishing an integrated iron and steel industrial complex. This ambitious project, with an estimated value of 4 billion dollars, not only seeks to boost local production but also to position Egypt as a key player in the global market. Furthermore, the initiative includes plans for a green hydrogen production facility, attracting investments of 2 to 3 billion dollars, as announced by Mohamed el Homosani, the spokesperson for the Egyptian cabinet, and reported by the Middle East News Agency (MENA).

Strategic Investment for a Greener Future

The proposal by Danieli outlines the construction of a state-of-the-art industrial park dedicated to the advanced production of iron and steel products. With a keen eye on sustainability, the project also aims to draw investors to fund a green hydrogen production plant. This forward-thinking approach not only underscores Egypt's commitment to eco-friendly industrial practices but also aligns with global efforts to reduce carbon emissions. The dual focus on advanced manufacturing and green energy represents a significant step towards modernizing Egypt's industrial sector and embracing renewable energy sources.