Egypt mulls $4b Italian steel complex
Egypt’s Prime Minister Mostafa Madbouly reviewed on Wednesday a $4 billion proposal by Italian company Danieli to establish an advanced iron and steel manufacturing complex in Egypt, according to the Egyptian Cabinet statement.
The meeting, attended by various ministers and officials, tackled means to support the local iron industry and export to global markets.
The project is aimed at attracting investors to establish a green hydrogen production facility with an investment of about 2 to 3 billion dollars. Moreover, the project is anticipated to offer around 17,000 jobs, both directly and indirectly.
