The El Masryeen Steel Company has increased its capital from EGP 1.7 billion to EGP 2.3 billion.

The increase comes as part of expansion plans and a rise in investments of the company in the Egyptian market, said Wael Farouk, the head of the financial sector at El Masryeen Steel, Monday.

El Masryeen Steel has four factories in Alexandria, Port Said, Beni Sweif and Ain Sokhna that produce a total of 2.2 million tons annually.