Egypt studies Italian proposal for $4bln iron industrial park

The project aims to lure investors to set up a green hydrogen production plant with investments estimated at $2 to $3 billion

Staff Writer, Arab Finance

February 28, 2024

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The Egyptian government is considering a proposal submitted by an Italian firm to establish an integrated industrial park for iron and steel, with investment of $4 billion, as per a statement.

The project aims to lure investors to set up a green hydrogen production plant with investments estimated at $2 to $3 billion.

This is in addition to localizing the advanced iron manufacturing industry and exporting iron and steel products to the international markets, especially the European one.

The project is expected to offer 17,000 direct and indirect job opportunities.

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