Egyptian steel producer Ezz Steel plans a US$780 million investment to establish a Direct Reduced Iron (DRI) plant in Algeria. The company submitted project details to the Algerian Investment Promotion Agency (AAPI), intending to utilize local iron ore resources and available benefits such as reduced taxes and energy costs.

This project, carrying a financing structure of US$155 million in equity and US$625 million in debt, targets an annual output of 2.5 million tons of sponge iron.

By accessing Algeria’s iron ore supplies, the Egyptian steelmaker intends to expand the facility into an integrated industrial complex covering various stages of iron and steel production.