Egypt Aluminum (Egyptalum), the largest aluminum producer in Egypt, is planning to invest nearly 1.05 billion Egyptian pounds in new projects in the next fiscal year starting from July 1, 2023 due to the rebounded profits and expected surges in aluminum sales and net profits for the fiscal year 2023-2024.

During the fiscal year 2023-2024, Egyptalum’s net earnings were expected to reach nearly 3.5 billion Egyptian pounds, far beyond the expected profits of 1.6 billion Egyptian pounds during the fiscal year 2022-2023. Besides, the expected sales were estimated to rise by more than double 26.6 Egyptian billion pounds from the same period a year ago.