El-Marakby Steel plans to invest EGP 1 billion (approximately USD 21.15 million) to expand its product portfolio, according to local media reports.
Chairman Hassan El-Marakby stated that the investment will be directed toward establishing a new plant in the industrial zone of New October City to produce cold-drawn wire rod, a key production input that the company had previously relied on imports for. Construction is expected to begin immediately after contracts are signed, with the new production lines scheduled to come on stream by the end of 2026.
El-Marakby added that the company is also implementing an expansion program launched in 2025 aimed at upgrading several production lines, improving operational efficiency, and reducing carbon emissions. These measures are intended to enhance the competitiveness of its products in export markets, particularly in light of increasingly stringent global sustainability requirements.
He noted that the company’s exports recorded annual growth of 40%, reaching approximately USD 100 million in 2025, with products shipped to markets in North Africa, the Gulf, Europe, the Balkans, and South America. However, he warned that some African markets have recently imposed new duties despite the existence of free trade agreements, which has partially affected export flows.
In a related context, data from the Export Council for Building Materials, Refractories, and Metallurgical Industries showed that Egypt’s iron and steel exports amounted to around USD 1.71 billion during the first eleven months of last year, representing an 18% decline compared to USD 2.09 billion in the same period of 2024.
USD 1 = EGP 47.3
