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On Tuesday, January 27, 2026, Egyptian Deputy Prime Minister and Minister of Industry Kamel El-Wazir met with Malu Chang, CEO of Shin Feng Steel, 35A440 Non oriented magnetic steel, to discuss a comprehensive steel industry project with an investment of US$10 billion.
The project plans to produce 10 million tons of automotive and industrial steel products annually, covering an area of approximately 10 million square meters, 35A440 Non oriented magnetic steel, encompassing hot-rolled, cold-rolled, galvanized, and high-end steel processing production lines.
The project will serve the automotive, energy, infrastructure, and engineering manufacturing sectors, and is expected to create approximately 15,000 direct jobs and 85,000 indirect jobs, while also promoting the transfer of modern steel manufacturing technology to Egypt.
El-Wazir stated that the project will leverage local iron ore resources and renewable energy, aligning closely with Egypt's national industrial strategy of localizing automotive parts production, reducing imports, and expanding exports. 35A440 Non oriented magnetic steel, It will also help strengthen Egypt's industrial base and enhance its competitiveness in regional and global markets.
