Egypt's largest steel manufacturer, Elmarakby Steel, has decided to invest EGP 1 billion in renewable energy to reduce its carbon footprint over the next two years.

Elmarakby Steel has previously obtained Environmental Product Declarations (EPD) approved by the Certification Authority for Reinforcing Steels (CARES), further expanding its global influence.

The company also planned to increase exports by 17% to 140,000 tons and expand its market share to 40 international markets by 2025. 

Meanwhile, the exports of rebar to Brazil are expected to reach 40,000 tons this year, following the quality certification obtained from the Brazilian Falcão Bauer Quality Institute at the beginning of the year.