Ezz Steel, a Cairo-based steel producer controlled by Egyptian billionaire Ahmed Ezz, has revealed plans to invest 1.16 billion over the next two years to expand production capacity, betting on domestic demand as global trade barriers weigh on exports.
The expansion comes as protectionist policies tighten steel flows across borders. Speaking on the sidelines of the World Economic Forum meetings, Ezz said exporters are facing conditions similar to those that pushed Western governments to impose tariffs. The pressures we see today are not unique to Egypt, he said. They are the same pressures that reshaped steel markets in Europe and the United States.
Ezz Steel exports to drop below 1 billion
