An Egyptian-Qatari investment alliance is studying the establishment of an iron and steel factory in Qena Governorate with initial investments of up to $100 million, sources told Al Borsa News.

The joint venture (JV), which is still under construction, will submit a request to the Industrial Development Authority (IDA) to obtain a license for rebar manufacturing and operating within the steel industries in the first half of 2025.

Later on, it will partner with the Italian group Danieli to purchase production lines and commence the operational phase in early 2026.

The Egyptian investor will provide the land and handle the construction works in exchange for a 51% share in the joint project.

Meanwhile, the Qatari side will finance the purchase of production lines and raw materials, retaining a non-controlling share of 49%.

The anticipated JV will mainly focus on exporting production, with about 80% of output to be directed to Arab, Gulf, and African markets, as well as Türkiye. The remaining amount will be sold in the local market.

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