El Marakby Steel eyes $110mln export revenues in 2024

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He noted that last year’s exports made up around 40% of total annual production

Staff Writer, Arab Finance

April 4, 2024

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Arab Finance: El Marakby Steel is targeting increasing its export revenues in 2024 by almost 10% to reach $110 million or to at least maintain last year’s $100 million revenues, the firm’s Chairman Hassan El Marakby told Al Arabiya Business.

He noted that last year’s exports made up around 40% of total annual production, up from 40% in 2022, adding that the firm seeks to achieve a 5% to 10% annual growth in local and export business volume.

El Marakby expects an increase in production this year, given the availability of materials following the recent liberalization of the local currency’s exchange rate.

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