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Turkey’s Erciyas Steel Pipe Company plans to establish a factory in Egypt to produce wide-diameter oil, natural gas, and water pipelines with an investment worth USD 60 million.
Turkey’s Erciyas Steel Pipe Company plans to establish a factory in Egypt to produce wide-diameter oil, natural gas, and water pipelines with an investment worth USD 60 million. The project is expected to generate returns of approximately USD 200 million, with 60% of production targeted for export and 40% allocated to the Egyptian market.
This deal materialised during a meeting between Minister of Investments and Foreign Trade, Hassan El-Khatib, and Emre Erciyas, the company’s CEO. The minister emphasized the ministry’s commitment to providing all necessary support to the Turkish company to establish and expand its project, with a focus on exporting to global markets. The Minister highlighted Egypt’s exceptional investment potential, including its strategic location, advanced logistics and transportation infrastructure, skilled workforce, access to renewable energy, equipped ports, and a network of free trade agreements with numerous countries and economic blocs worldwide.
El-Khatib added that the Egyptian government aims to implement further financial, monetary, trade, and tax policy reforms to facilitate investments, boost foreign trade, attract more local and international investments, and increase Egyptian exports to global markets.
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El-Khatib reiterated Egypt’s ambition to become a regional export hub, leveraging its strategic geographic location and competitive advantages such as trained labour at competitive wages and highly skilled engineers.
