Tunisia is planning to expand its state steel plant as part of reforms intended to boost the North African Arab nation’s income, the local media reported on Thursday.

Finance Minister Sihem Boughdiri told Parliament on Tuesday that the project to expand Elfouladh Steel Company would be funded through a $70 million loan to be provided by the European Bank for Reconstruction and Development (EBRD).

She said a request for the loan was sent to EBRD on 10 January at the request of the Industry, Mines and Energy Ministry.

According to official data, Elfouladh, set up in 1965, produced more than 200,000 tonnes per year of steel in 2022.

(Writing by Nadim Kawach; Editing by Anoop Menon)

(anoop.menon@lseg.com)

Subscribe to our Projects' PULSE newsletter that brings you trustworthy news, updates and insights on project activities, developments, and partnerships across sectors in the Middle East and Africa.