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Tuesday, 29 October 2019

Egyptian Arab Metals to establish new USD 100 mn stainless steel factory

Egyptian Arab Metals (Zeinox) plans to establish a USD 70-100 mn stainless steel production plant, Deputy Chairman Wael Abbas told the local press. The company plans to meet local supply needs and export its products to Europe and the US as it looks to capitalize on the trade war between Washington and Beijing. Zeinox is currently conducting a feasibility study for the new plant with the European Bank for Reconstruction and Development, and is looking at different financing options.

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