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EGYPT, Regional
Center for Manufacturing & Technology
The Middle East is one of the world’s fastest growing metal
and steel marketplaces. The steel industry is booming at a
phenomenal rate; however the pace of demand is far outstripping
supply. The Middle East produced 26.1 million tons of raw steel and
consumed 45.5 million tons in 2006. Due to rising steel demand,
which is growing at 9 percent rate, by 2010 the Middle East steel
will be producing 35 million tons per year, but will be consuming
73.3 million tons per year. It is growing at 9 percent rate per
year.
This massive imbalance between supply and demand means
immense business opportunities for those investing in increasing
production in the region’s steel sectors, and lead to a surge in
demand for machinery, equipment and consumables needed by steel.
Fabrication yards have been kept busy at full capacity, trying to
meet a constantly increasing market demand for fabricated steel,
making the region one of the fastest growing and lucrative markets
for suppliers of the steel fabrication industry.
So, there is a strong interest regarding the Middle East,
reflecting its rapid growth in recent years and potential to become
a leading player in the steel industry.
Compared to other newly industrialized countries, Egypt's
iron and steel and nonferrous metals industry is well-developed. The
Egyptian Steel Industry symbolizes the backbone of Egypt's economy
and provides the impetus for the growth of major industries
including construction and building, ship building, automotive and
consumer goods. Egypt is considered the region’s major player in the
steel industry.
According to the World Investment Report 2007, published by
UNCTAD, Egypt was ranked as the top African nation in terms of FDI
flows. In Egypt inflows exceeded US$ 10 billion in 2006. So, all the
world attention is now focused on Egypt as a promising market with a
strong economy.
Due to the effort of achieving the country’s goal of being
industrialization, urbanization and welloff society, Egypt’s Steel
Industry will remain a sustained and rapid development for a long
period in the future.
With the massive increases in the production capacity of the
steel, not only in Egypt but in all the Middle East, the need for a
regular international exhibition for products, investment and
technology is obvious, and Egypt is the natural choice for such
event
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