Kamel El-Wazir, Egypt's Deputy Prime Minister for Industrial Development and Minister of Industry and Transport, met with Shin Feng Steel CEO Malu Chang to discuss a $10 billion integrated industrial steel project.

The complex will produce 10 million tons of automotive and industrial steel per year on a 10 million m² site. It is expected to create 15,000 direct jobs and 85,000 indirect jobs while transferring modern technology to the local workforce.

The project will rely on local iron ore and renewable energy, supporting Egypt's strategy to localize automotive components and cut import dependency. This initiative aims to strengthen Egypt's industrial foundation and enhance its competitiveness in both regional and international markets.