Egyptian steel producer El Marakby Steel announced plans to invest EGP 1 billion in 2026 to support and expand domestic production. As part of its strategy to strengthen local manufacturing and reduce reliance on imports, the company will establish a new plant focused on strategic products, especially wire rod, at the New 6th of October Industrial Zone. 

CEO Hassan El Marakby said the facility will be built on a 15,000-sqm site, with the land allocation agreement expected to be finalized within a month. 

Looking ahead, the company aims to raise total investments to EGP 6.5 billion by 2030, up from around EGP 5 billion currently, to diversify products and enhance export capabilities. It also continues its modernization and decarbonization program.