Arab Finance: The Ministry of Public Business Sector is planning for the development of Aluminium Company of Egypt (Egyptalum) with total investments of $250 million over five years, according to a statement by the Ministry of Industry and Transport.

The announcement was made during the 13th meeting of the Ministerial Group for Industrial Development, chaired by Kamel El-Wazir, Deputy Prime Minister for Industrial Development and Minister of Industry and Transport.

The meeting emphasized the importance of preserving the company's assets, rehabilitating production lines, and increasing its production capacity.

The development plan will be implemented per the carbon border adjustment mechanism (CBAM) to maintain the company's exports to foreign markets in the coming years.

Furthermore, the ministerial meeting reviewed the requests submitted by DK TRADE AG, a company specializing in aluminum trade, to establish a new aluminum smelter with a production capacity of 200,000 tons or to add a new production line with a production capacity of 264,000 tons at Egyptalum.

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