The Nation published on 21 April 2025 an article titled "Nigerian, Chinese Firms Seal $2.5b Steel Production Deal" by Chikodi Okereocha.
A Nigerian firm and China's Sinomach-HE have signed a financial and technical cooperation agreement for the development of a steel production plant in Nigeria valued at $2.5 billion. The project will process Nigerian iron ore into finished steel products for sale locally.
The Diplomat published on 7 April 2025 a commentary titled "How Chinese Investments Are Reshaping Africa's Steel Industry" by Sena Voncujovi.
For China, investing in Africa's steel industry is a strategic move to relocate surplus production and address slowing domestic demand. China is acquiring and developing iron ore mines and steel production facilities across Africa. This may help African nations move from being passive buyers of Chinese steel to active producers.
Zawya Projects posted on 29 May 2023 an article titled "Chinese Companies Flock to Egypt's SCZONE" by Eman Hamed.
Chinese companies have announced more than $3 billion in investment projects in the coming years in the Suez Canal Economic Zone in the chemical, textile/apparel, power, pipes, and iron and steel sectors.
Comment: Historically, not all announcements of Chinese investment projects materialize and it will be instructive what happens in this case.
