Egypt’s Industrial Development Authority (IDA) has offered eight new licenses to manufacture steel products, specifically continuous-cast billets, with a combined production capacity of 2.8 million tons per year, the authority said. The move follows directives from Industry Minister Khaled Hashem and aims to increase domestic production capacity and secure the raw materials needed by local factories, the authority said.
IDA Chairwoman Nahed Youssef said the new licenses are intended to boost domestic billet production, helping meet the needs of local rolling mills, deepen local manufacturing, reduce reliance on imports, curb the use of foreign currency and strengthen the competitiveness of Egypt’s steel industry.
The offering comprises four licenses, each with an annual production capacity of 500,000 tons, and another four licenses, each with a capacity of 200,000 tons per year, for a combined targeted capacity of 2.8 million tons annually. Youssef said the authority was working under the industry minister’s directives to strengthen industrial integration in the metals sector by encouraging investment in basic and supporting industries.
The aim was to ensure a sustainable supply of production inputs, increase the added value of locally manufactured products and support the competitiveness of domestic industry, she said. The authority was committed to removing obstacles facing investors seeking to enter the strategic sector and providing the necessary incentives to attract new investment, supporting government plans to increase domestic production and deepen manufacturing, Youssef said.
Companies interested in applying for the new licenses can obtain the tender documents and specifications from the authority’s headquarters in New Cairo’s Fifth Settlement from Aug. 11 to Aug. 20, she said. The deadline for submitting offers is noon on Sept. 9, the authority said, adding that it would not consider any applications submitted before the announcement of the new offering.
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