Engineer Ahmed Samir, Minister of Trade and Industry, and Major General Abdel Majeed Saqr, Governor of Suez, discussed with representatives of 137 international companies specialized in the field of iron and steel manufacturing at the headquarters of the Suez Steel Company, affiliated with the Misr Steel Group, the investment opportunities available in the Egyptian market and the production and technological capabilities that can be built upon to pump New investments in Egypt during the next stage.
The minister said that the iron and steel industry is the cornerstone of Egypt’s economic strength, and represents a pillar on which the infrastructure, construction and manufacturing sectors depend. He praised the role of iron and steel producers in advancing this huge industry, which contributed to Egypt assuming a prominent position among the best steel producers in the East. Middle and North Africa, where Egypt’s steel production during the past year reached 9.8 million tons, which strengthened Egypt’s position as the largest steel producer in Africa, which reflects the current strength of the industry and its enormous potential for future growth.
He reviewed some of the challenges that the sector is witnessing, which include the European Union’s Carbon Border Adjustment Mechanism (CBAM), which is scheduled to be implemented in 2026. This mechanism aims to ensure equal opportunities by imposing a carbon price on imported goods, which imposes a strategic shift towards carbon removal to preserve On Egypt’s competitive and export capabilities.
Pointing out that the Ministry is committed to supporting the transformation of iron and steel manufacturers to green production methods by making efforts to enhance cooperation with pioneers in this industry, research institutions and technology providers to find innovative solutions such as electric arc furnaces and the use of green hydrogen, which contributes to reducing the impact of (CBAM) as well as pushing Egypt To the forefront of sustainable steel producers, which represents a precedent for responsible industry practices on a global scale, pointing out that Egypt possesses the capabilities that qualify it to advance in this industry.
