Tunisia Plans to Build New Steel Plant with 300,000 Tonne Capacity

Tunisia Plans to Build New Steel Plant with 300,000 Tonne Capacity

Tunisia is considering the creation of a new steel plant with a capacity of 300,000 tonnes per year, at an estimated cost of $70 million. This strategic project, led by the national company El Fouladh, was at the center of a meeting held on April 10 between the Minister of Industry, Fatma Thabet Chiboub, and a delegation from the Islamic Development Bank's (IDB) regional center in Rabat.

This meeting, held at the Ministry's headquarters in Tunis, is part of a shared desire to strengthen cooperation between Tunisia and the IDB through a new partnership framework for the 2026-2028 period. This program aims to support the country's strategic sectors while reinforcing the role of the private sector in economic development.

In addition to the steel plant project, discussions allowed for the exploration of other collaboration opportunities, particularly in the energy and extractive industries.

Founded in 1975 and based in Jeddah, Saudi Arabia, the Islamic Development Bank brings together 57 member countries across four continents. Tunisia is one of the bank's main partners, ranking 11th globally and 2nd regionally. Between 2010 and 2024, several major projects have been financed in the country, including collaborations with STEG, the Tunisian Chemical Group, the Gafsa Phosphate Company, and the National Paper and Pulp Company.