Tunisia | 330 MDT to modernize El Fouladh steel plant

⚠️ Urgent — Flash Radio is following this situation in real time The Islamic Development Bank (IDB) conducted a working visit to El Fouladh steel plant, located in Menzel Bourguiba, Bizerte governorate, to explore a 330 million dinar financing aimed at modernizing the facility. This initiative seeks to boost local steel production and reduce imports. Sami Gabtni, CEO of the steel plant, stated that this visit marks the final stage of negotiations for the project financing, following failed attempts to sell the plant to foreign operators. ⏱️ 1 min read Recent facts and developments The modernization project aims to triple current production capacity, thereby meeting Tunisia's steel billet needs. It includes the construction of a converter furnace, installation of continuous casting machines, as well as engineering studies and civil works. The goal is to modernize production units while preserving jobs and operational capabilities of the company. The governor of Bizerte, Salem Ben Yaâcoub, emphasized the importance of strengthening the steel plant's production capabilities to support the local and regional economy. The IDB mission will prepare a report to be submitted to the technical committee of the Islamic Development Bank (IDB), before being presented to the administration committee for financing approval. This project represents a turnaround opportunity for El Fouladh steel plant, which faces recurring financial challenges. ⚡ Key points ▸ The governor of Bizerte, Salem Ben Yaâcoub, emphasized the importance of strengthening the steel plant's production capabilities to support the local and regional economy. ▸ It includes the construction of a converter furnace, installation of continuous casting machines, as well as