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Ezz Steel, a Cairo-based steel producer controlled by Egyptian billionaire Ahmed Ezz, has revealed plans to invest $1.16 billion over the next two years to expand production capacity, betting on domestic demand as global trade barriers weigh on exports.
The expansion comes as protectionist policies tighten steel flows across borders. Speaking on the sidelines of the World Economic Forum meetings, Ezz said exporters are facing conditions similar to those that pushed Western governments to impose tariffs. “The pressures we see today are not unique to Egypt,” he said. “They are the same pressures that reshaped steel markets in Europe and the United States.”
Ezz Steel exports to drop below $1 billion
Ezz Steel recorded $1.6 billion in exports in 2024, but Ezz said overseas sales are expected to fall this year, likely coming in below $1 billion. With access to foreign markets narrowing, the company is turning inward. Ezz pointed to construction and infrastructure spending as the main sources of demand growth while calling for closer economic cooperation within the Arab world.
He said regional coordination could offer more reliable opportunities than depending on mature industrial markets that are increasingly defensive. On pricing, Ezz said the company cut steel prices in November and December 2024, moves he described as temporary. Prices were raised again in January 2025 but remain below late-2024 levels.
Steel prices, he noted, carry particular weight in Egypt because much of the buying comes from individuals rather than institutions. “Any change is felt quickly,” he said, drawing a comparison with food commodities. Large infrastructure projects, by contrast, are better positioned to absorb price swings.
Ezz Steel output, ownership, green spending
Ezz Steel produces about 7 million metric tons a year, supplying the local market and exporting across the region. Its output exceeds that of regional peers such as Saudi Arabia’s Hadeed and the UAE’s Emirates Steel. Ahmed Ezz owns 66.45 percent of the company, making him one of the most prominent investors on the Egyptian Exchange.
Beyond production, the company says it has spent about $120 million on corporate social responsibility initiatives, with a focus on environmental protection. Investments include emissions filters, pollution controls and the maintenance of green areas across its plants.
