The project also aims to attract investors to establish a green hydrogen production plant with investments estimated at between $2 and $3 billion, according to a statement by Mohamed El Hommosani, the Official Spokesman for the Egyptian Cabinet.
Prime Minister, Mostafa Madbouly, held a meeting to study a proposal submitted by the Italian company Danieli to establish an integrated industrial complex for the manufacture of iron and steel products in Egypt with $4 billion investments.
The project also aims to attract investors to establish a green hydrogen production plant with investments estimated at between $2 and $3 billion, according to a statement by Mohamed El Hommosani, the Official Spokesman for the Egyptian Cabinet.
El Hommosani added that the integrated industrial complex for the clean iron and steel industry aims to localize the advanced iron industry, through the use of international expertise, as well as exporting iron and steel products to global markets, especially the European market.
The company's proposal includes setting up factories for sponge iron, seamless steel pipes, and flat steel. They also plan to establish an international training center in Egypt to train engineers and technicians worldwide for their global projects.
Additionally, they aim to develop Egyptian crude mines in collaboration with the Ministry of Public Business Sector and the Ministry of Petroleum and Mineral Resources to enhance the local contribution to steel products.
The spokesman added that the contents of the proposal were discussed regarding studying European market needs to estimate the volume of the project’s exports.
