EGYPT

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Rus­sian man­u­fac­tur­ing gi­ant Met­prom Group eyes me­tals in­vest­ment in Egypt

RUS­SIA’S ME­TALS GI­ANT Met­prom Group has an­nounced its in­ten­tion to set up two projects in Egypt with to­tal in­vest­ments of $235.5m, ac­cord­ing to Amr Nas­sar, the Egyp­tian Min­is­ter of Trade.

He said the first project aims to es­tab­lish a rolling mill for the pro­duc­tion of re­bar and wire in Egypt, with an an­nual pro­duc­tion ca­pac­ity es­ti­mated at 150,000 tonnes and in­vest­ment of $68.5m.

The sec­ond project val­ued at $171m is set to re­fur­bish the iron com­plex in Hel­wan in five stages, in­clud­ing car­ry­ing out ren­o­va­tions of the com­plex, which will in­crease its ca­pac­ity to 500,000 tonnes of bil­lets a year, Nas­sar said.

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