A flat steel project in Egypt for everything and anything: Egypt is planning to set up an integrated industrial complex worth USD 1 bn with an unnamed global firm to produce flat steel for use in EVs and renewable energy components, according to a statement. The project’s products will also be used in several industries including electric transformers, and the country’s metro, monorail, and high-speed rail, the statement notes.

Ironing out the details: The project will be built over 1.5 mn square meters in two phases, Egyptian Cabinet spokesman Nader Saad said. It will have a flat steel production capacity of 1.8 mn tons, with the first batch expected within 18 to 24 months from receiving necessary approvals, he added. The project will target exports to global markets as well as serve the local market, Saad said. The project has obtained approval from the General Authority for the Suez Canal Economic Zone, the statement notes.