El Garhy Group for Steel is looking to invest USD250mn to establish two new plants in Suez City, a billet manufacturing plant with a production capacity of 1.2mn tonnes annually and a steel rolling mill with a capacity of 500k tonnes annually. According to Chairman Gamal El Garhy, the company is planning to increase its production to 2.5mn tonnes of steel annually by 2020e from 1mn tonne currently, as well as raise its market share to 22% from 9%. Garhy also noted that the company has plans to go public during 1Q18, with the proceeds to be used for expansions.