Egyptian steel manufacturer Ashry Steel Group has announced plans to invest more than €600 million ($685 million) in the construction of a new stainless steel pipe plant, according to local media reports. The project, recently greenlit by the Egyptian government with production permits and official certification, marks a major step in the country’s industrial expansion.
Company chairman Ayman El Ashry confirmed that the plant will produce seamless stainless steel pipes with an initial annual capacity of 250,000 metric tons. Operations are expected to begin within two years.
This major investment aligns with Egypt’s national strategy to boost domestic steel production, reduce dependence on imports, and position the country as a key steel exporter in the region.
Minister of Industry Kamel El Wazir outlined the government’s broader plan in recent meetings with top local producers, highlighting new production licenses, improved supply chain coordination, and industry policy development in collaboration with business groups.
The new Ashry Steel facility is expected to play a pivotal role in achieving these national goals, strengthening Egypt’s industrial base while creating jobs and enhancing regional trade competitiveness.
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