El Marakby Steel Group has announced plans to inject new investments estimated at $23 million over the coming year, aiming to develop higher value-added finished products and deepen local manufacturing within its facilities. The announcement was made by Hassan El-Marakby, the company’s CEO and Managing Director, in an interview with Eram Business on the sidelines of the Middle East Iron & Steel Conference currently being held in Dubai.
El-Marakby explained that the group’s production capacity stands at 700,000 tons annually, while actual output is around 600,000 tons. He noted that current utilization rates range between 70% and 75%, with plans to raise them to over 90% in the coming period through the planned expansions.
He added that the Egyptian market accounts for roughly 70% of the company’s sales, while the remainder is exported to about 40 countries. However, he pointed out that export operations are currently facing challenges due to higher U.S. tariffs on steel imports and the European Union’s new requirements.
The group is also moving to strengthen its use of clean energy and reduce emissions, having allocated half a billion Egyptian pounds to establish solar power stations to supply its plants with clean electricity, with implementation set to begin next year.
