Ashry Steel Group revealed its plan to establish a factory specializing in the production of seamless stainless steel pipes, with investments exceeding 600 million euros. This plan was announced after officially obtaining a production license, completing all administrative procedures, and receiving a letter of credit from the government last week, according to statements made by group chairman Ayman Ashry to Enterprise.

The factory’s initial production capacity is expected to reach approximately 250,000 tons annually, representing a qualitative addition to the pipe industry in the local market.

Ashry explained that the factory will begin operating within 24 months, noting that the project will contribute to supporting manufacturing industries and reducing reliance on imported raw materials. The group plans to begin field visits to the project site after the Eid al-Adha holiday, in preparation for signing production line contracts and commencing implementation phases.

This project coincides with the government’s efforts to localize the steel industry and reduce reliance on imports, as part of a national plan to transform Egypt into a regional hub for iron production and export, as announced by Industry Minister Kamel El-Wazir during an expanded meeting with major local iron manufacturers last week.

The government plan includes issuing new licenses for billet production, redistributing excess capacity, and developing unified industrial policies to promote integration in the iron sector, in coordination with the local business community.

Source: aisusteel.com