Elmarakby Steel plans EGP 500 mn factory upgrade

#1- Elmarakby Steel is planning to invest EGP 500 mn to upgrade its high-carbon wire production lines over the next two years to boost local content and export competitiveness, Chairman Hassan Elmarakby told Al Borsa. The company is also implementing solar energy projects and upgrading production systems to reduce energy consumption and emissions, as well as raise total investments to EGP 6.5 bn by 2030, from EGP 5 bn today.

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#2- Local ice cream maker Friday plans to invest over EUR 15 mn into expanding production capacity, Chairman Mohamed Gomaa told Al Borsa. The investment will raise output from 24 tons to 36 tons per hour by adding new lines and upgrading existing machinery.