The Egyptian Minister of Trade and Industry Ahmed Samir held a meeting with the delegation of the Russian Novostal-M company working in the rebar industry. Samir explained that Novostal-M plans to establish a steel factory in Egypt and supply minerals for Egyptian projects, establish infrastructure for food warehouses, cooperate in the field of construction, and export nitrogen and fertilizers from Egypt to African countries. Samir added the company will contribute to increasing Egyptian exports of citrus and urea, which will be transported by the Russian company. Demchenko added that his company owns two factories in Russia and exports its products. The company exports 90 percent of its products and has several partners in Egypt, he said, pointing out that the company’s production of reinforcing steel amounts to about 2.8 million tons annually, exported to 60 countries.

Source: Egypt Independent August 18, 2023 00:06 UTC