CAIRO, May 3 (MENA) – President Abdel Fattah El Sisi reviewed via video conference a presentation of new successful private sector factories during Labor Day celebrations in Suez.

Among them was Arco Steel, described by its managing director as the only specialized steel producer in the Middle East.

The company has added two production lines for wires used in railway sleeper manufacturing, with a current capacity of 25,000 tons annually. The project covers 20,000 square meters and involves investments of EGP 500 million.

It plans to add 28 more lines on 165,000 square meters with EGP 6 billion in funding. This expansion is expected to create 1,500 jobs and raise annual capacity to 400,000 tons, enabling full local production of railway sleeper wires.

The company is also building a cold-rolled and galvanized steel facility with a 350,000-ton capacity to serve the automotive and appliance industries and reduce import dependence. (MORE)

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