Islamic Development Bank visits Tunisia to fund El Fouladh steelworks

A high-level delegation from the Islamic Development Bank (IsDB) is conducting a mission in Bizerte, Tunisia, to finalize negotiations for a 330 million dinar project to restructure and modernize the El Fouladh steelworks in Menzel Bourguiba.

The project aims to triple the plant’s production capacity to approximately 300,000 tonnes of steel per year. Key technical upgrades include the acquisition of a reheat furnace and continuous casting machines, alongside civil engineering and structural works. This expansion is intended to meet national demand for steel billets, which are currently partially imported, while preserving local employment and adhering to environmental standards.

The IsDB mission, led by Momar Sow, includes site inspections and meetings with company officials, the National Environmental Protection Agency (ANPE), and regional authorities. Following the mission, a report will be submitted to the bank’s technical committee and board of directors for final approval. The IsDB has maintained a strategic partnership with Tunisia since 1975, having funded over 316 projects totaling $6.5 billion.