Eight Egyptian companies have secured new licenses to produce billet, a key component in the steel industry, as part of a government plan to boost local manufacturing and reduce imports. The licenses cover production capacities ranging from 200,000 tons to 1.5 million tons, with total additional capacity expected to reach 3.7 million tons.
Ataqa Steel and El Ezz El Ashry Steel obtained the two largest licenses, with capacities of 1.5 million tons and 1 million tons respectively, worth a combined 2.8 billion EGP. Six other companies, including Bianco China, North Africa, Misr Steel, and Anter Steel, won licenses of 200,000 tons each, bringing total license revenues to around 7.5 billion EGP.
The final decision naming the winning companies will be issued by the Prime Minister, with companies required to settle license fees within one year of the decision, subject to the Central Bank’s prevailing interest rate.
