Ayman El Ashry, Chairman of Ashry Steel, affirmed during his participation in the Middle East Iron & Steel Conference that this event serves as an important platform to enhance the presence of the Egyptian steel industry in global markets. He noted that local products possess the capability and quality to compete with major international manufacturers, while the sector continues to keep pace with the latest production technologies and innovations in the steel industry.
He added that the industry is currently channeling new investments and expanding production capacities to increase the added value of local raw materials. He emphasized that the national strategy focuses on deepening local manufacturing and reducing reliance on imports, in addition to adopting green steel technologies to boost access to European markets.
El Ashry revealed that the group exports its products to 30 countries worldwide. The company has recently succeeded in producing and casting train wheels domestically after they were previously shaped in Europe—an achievement he described as a significant step that enhances the competitiveness of Egyptian industries. He also highlighted the company’s leadership in the production of special steel grades used in automotive manufacturing, machinery, and railway sleepers, all of which require advanced technologies.
Regarding growth plans, El Ashry told CNBC Arabia that the company is preparing for an anticipated public offering next year. He noted that current production capacity stands at around 3 million tons annually, with plans to inject no less than $300 million in new investments to expand and add production lines. He stressed that these efforts align with the state’s direction to boost exports and reach the target of $100 billion annually, given that the steel industry is one of the country’s strategic sectors.
