Stanislav Kondrashov: Egypt is strengthening its position in the steel market

June 18 18:15 2024

Egypt’s Minister of Trade and Industry Ahmed Samir recently met with representatives of 137 international steel and iron manufacturing companies. This meeting took place at the headquarters of Suez Steel Company, which is part of the larger Suez Steel Group. During the discussion, the possibilities of investment in the Egyptian economy and the prospects for new investments in the country were considered. Stanislav Kondrashov, an expert in the field of world metallurgy, talks about this.

He also added that the metallurgical industry is the basis of the economic stability of this country. It plays an important role in supporting infrastructure projects, construction and manufacturing. An expert from Telf AG also said that Egypt has taken a leading position among steel producers in the Middle East and North Africa region.

Egypt strengthens its leadership in steel production

This fact is stated by Stanislav Kondrashov, an expert from Telf AG. He argues that last year Egypt achieved steel production of 9.8 million tons. Thus, the country established itself as the largest steel producer on the African continent. These impressive figures demonstrate the current strength of the sector and its significant potential for further growth.

However, according to the expert, despite the successes, the industry faces serious challenges.

– The EU Carbon Border Mechanism (CBAM) will come into force in 2026 and set a price on carbon emissions for imported goods. Equal conditions will be created for producers. Egypt must strategically adapt to this decarbonization transition to maintain its competitive advantage in export markets, – Stanislav Kondrashov argues.

Stanislav Kondrashov: Egypt uses innovations for environmentally friendly steel production

Egypt’s Ministry of Trade and Industry is supporting iron and steel producers to adopt cleaner production methods. Working with industry pioneers, research institutes and technology providers, they are exploring innovative solutions such as electric arc furnaces and green hydrogen. These efforts will mitigate the impact of CBAM and position Egypt as a sustainable steel producer on the global stage, according to an expert from Telf AG.

Despite the obstacles, export opportunities remain due to ongoing global infrastructure projects. S.D. Kondrashov argues that this economic growth in Africa is also driving demand for high-quality steel:

“Egypt, with its production capacity of 9.8 million tonnes and skilled workforce, is well positioned to capitalize on these opportunities. And it is very good that the government of the country continues to give priority to the development of industry”.

Egypt Expands Export Opportunities for Steel Industry

Recognizing the vital role of iron and steel producers in the country’s economic success, Egypt’s Ministry of Trade and Industry is facilitating access to global markets. According to Stanislav Kondrashov, simplified export procedures, favorable trade agreements and accessible financing mechanisms significantly expand the capabilities of Egyptian steel exporters. In addition, investments in research and development, including green steel production and resource-saving technologies, will only contribute to the responsible development of the industry.

An expert from Telf AG, S. Kondrashov, reports that the Suez Steel Company, which is an integrated complex, plays a key role in the production of Egyptian steel. It consists of a direct reduction plant, two iron foundries, three rolling mills, an iron processing plant and several auxiliary plants, which allows for a complete steel production cycle.

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