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The SMS Group, a German company specializing in metal production technologies, plans to establish a direct reduced iron (DRI) plant in Egypt, with investments projected to exceed €1 billion.
The SMS Group, a German company specializing in metal production technologies, plans to establish a direct reduced iron (DRI) plant in Egypt, with investments projected to exceed €1 billion.
This came during a meeting with Minister of Investment and Foreign Trade, Hassan El-Khatib, with representatives from SMS Group, during his current visit to Germany.
The proposed plant is expected to have an annual production capacity of 2.5 million tons. It has the potential to expand to 4 million tons per year and to create approximately 1,000 job opportunities.
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An agreement was made to organize a meeting between the Minister and the company’s officials in Egypt shortly to identify a suitable partner to kick-start the project. Additionally, there is a possibility of establishing the plant in one of the regions under the authority of the Suez Canal Economic Zone.
