A new Egyptian Steel plant is to be open in the SCZone during the upcoming month, according to its CEO, Ahmed Abou Hashima, Invest-Gate reports.

Abu Hashima has made the announcement, along side Head of SCZone Mohab Mamish, during the World Youth Forum (WYF), currently held in Sharm El-Sheikh.

“The company’s other steel plant located in the Upper Egyptian city of Beni Suef has been popular among US and European companies who wish to establish plants with the same advanced technology we are using,” Abou Hashima added.