Russian Novostal-M plans to build factory in Egypt

Russian metallurgical holding company Novostal-M plans to establish a new factory in Egypt to expand its cooperation in the country, according to a statement released by the Ministry of Trade and Industry on Wednesday.

Novostal-M is interested in collaborating with Egypt in the fields of nitrogen and fertilizers, with the aim of exporting these products to other African countries, said the Minister of Trade and Industry Ahmed Samir.

The announcement came during Samir’s meeting with the delegation of the Russian Novostal-M company. The meeting comes as part of the Egyptian government’s efforts to attract more international investments, he added.

The talks also aim to strengthen partnership frameworks between the public and private sectors and encourage Russian companies with knowledge to establish joint projects in the interest of Egyptian and Russian economies.