Egypt's government is evaluating the proposal of the Italian Danieli Group to construct an integrated industrial complex. The proposal requires a US$4 billion investment. Besides, the government is also considering a plan to establish a green hydrogen plant, which was expected to attract US$2-3 billion in investments.

The project aimed to develop the domestic advanced iron industry and export iron and steel products to other countries, especially Europe. In addition, the projects were expected to create about 17,000 direct and indirect job opportunities.