Egypt is in the final stages of issuing new licences for steel production with a combined annual capacity of approximately 2.8 mln tons, as part of a broader strategy to expand domestic steelmaking capacity and reduce reliance on imported raw materials, Industry Minister Khaled Hashem said, according to the local media reports.
The new licences will be accompanied by measures to increase domestic billet production, strengthening local steel value chains and supporting downstream manufacturers. Hashem said the expansion complements the government’s recent decision to impose temporary duties on imported steel products, creating a more supportive environment for domestic producers while encouraging new investment in Egypt’s iron and steel sector.
The minister added that the government aims to position Egypt as a regional hub for iron and steel manufacturing by attracting further investment into the sector. As part of wider industrial reforms, the Ministry of Industry will launch Egypt’s first industrial investment fund in September to provide new financing options for manufacturers seeking to expand production.
The government is also introducing a lease-to-own system for industrial land, easing ownership transfer rules temporarily through the end of 2026, and continuing to reallocate idle industrial land to active investors. In addition, authorities plan to revive distressed factories through a digital investment platform offering existing industrial assets, while expanding the number of industrial developers to accelerate infrastructure development.
The ministry is also preparing new incentives for the automotive sector aimed at increasing local manufacturing, expanding component production and attracting technology-intensive investments.