International rating agency Fitch said in an April report that Egypt is the largest steel producer in Africa and the second largest in the Middle East and North Africa region.

Egypt's steel production capacity remains stable, reaching 9.8 million tons in 2022. Egyptian steel production is expected to grow at an average annual rate of 1.5% over the next decade, with mining exports rising to US$10 billion a year by 2040.

Besides, the metals and mining industries of countries in the Middle East and North Africa region will also accelerate over the next decade.