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Power 60 Power 60 2016

#5 Egyptian Steel

Egyptian Steel’s new steel plant in Beni Suief has started cold commissioning and will have a grand opening event in September. This plant is the first of its kind in the Middle East and Africa, using ecofriendly technology. It’s also the biggest of its kind globally, producing 830,000 tons annually, while the only two other plants in the world using the same technology each produce 250,000 tons only.

The plant has put Egyptian Steel on the global map as the biggest manufacturer of green steel, which will be the future of construction. The company has also established Egyptian Cement and applied for a license to produce 2 million tons per year, a first step in expanding into other building materials besides steel and part of its vision to become a one-stop shop for all building materials.

Demand for steel in Egypt remains high with a long pipeline of infrastructure and development projects that will require steel. Ahmed Abou Hashima, has an optimistic outlook for the Egyptian market: “During the upcoming year we will launch production in our 4th steel plant, which is identical to the Beni Sueif plant in technology and production capacity but located in the city of Al Ain Al Sokhna on the Red Sea,” he said.

“With the launching of this plant the total production capacity of Egyptian Steel Group will reach 2.3 million tons per year, enabling us to acquire 20-25% market share. Yet, with still being the sole producer of green steel in the region, and the biggest globally.”

 

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