Russian engineering company Metprom Group revealed that it plans to establish two projects in Egypt with total commitments of 210 million euros ($239 million).
The first project aims to set up a rolling mill for the production of rebar and wire in the Russian industrial zone in Egypt, with a production capacity estimated at 150,000 tons annually and investments estimated at $68.4 million.
The second project is set to rehabilitate the iron and steel complex in Helwan in five stages, including carrying out renovations of the complex.
The rehabilitation will boost its production capacity to 500,000 tons of Billets annually, with investments of $171 million.