Suez Steel, a major steel producer in Egypt, has launched two new factories, significantly enhancing the nation's industrial independence and decreasing dependence on imports.

The first, an iron ore concentration and refining plant with an annual production capacity of 5 million tons, aims to reduce the need for iron pellet imports, saving Egypt more than US$400 million yearly. The second factory, unique in the region, produces up to 800,000 tons of railway sections and heavy sections annually, supporting infrastructure projects domestically and in the Middle East and Africa.

Suez Steel anticipates these facilities will reduce the import bill by approximately US$1 billion annually, promoting industrial self-sufficiency. The company also had a future plan of expanding iron pellet production to 15 million tons per year.