Kamel El-Wazir, the Egyptian Minister of Industry and Trade, and Deputy Prime Minister for Development, met with the Chinese steel producer Wu’an Xin Feng to discuss working on building a 10 million metric tons per year capacity steel plant in Egypt, Egypt’s State Information Service reported Jan. 27.
The steel project, part of a larger integrated industrial project, will produce a variety of steel products, including automotive and structural steel, pipes, automotive components, galvanized sheets, etc. The complex will cost $10 billion, and span 10 sq km (nearly 4 sq miles).
The project is expected to create 15,000 direct and over 85,000 indirect jobs, while also advancing technology transfer and strengthening Egypt’s industrial base. It fits in with and will be a leading element in Egypt’s development plan under President Abdel Fattah el-Sisi, a plan which is one of the most ambitious in the world and includes building 38 to 45 new cities by 2050.
