Egyptian steel group to open steel billet, rolling mills plants at 2018-end

Egyptian steel manufacturer El-Garhy Steel Group says it plans to inaugurate two plants for steel billets and rolling mills production in Suez at the end of 2018.

Located in Ataqa Industrial Zone in Suez, the two plants are with investment costs worth 3.6 billion Egyptian pounds ($198 million).

As for the first plant, El-Group seeks to produce around 1.2 million of steel billets annually, chairman Gamal El-Garhy told Amwal Al Ghad on Tuesday.

The second plant will have a production capacity of around 500,000 tonnes of steel rolling mills annually, El-Garhy said.