Madar (Tunis) - A high-level mission from the Islamic Development Bank (IsDB) made a working visit to Bizerte governorate on Monday, October 19, 2026, as part of negotiations with the Tunisian state on financing the restructuring and modernisation of the El Fouladh steelworks in Menzel Bourguiba, Tunisian media reported.
According to Webdo, citing the company's chief executive Sami Kabtini, the visit marks the last stage of negotiations on a project estimated at about 330 million dinars, aimed at tripling the state-owned company's production capacity and meeting Tunisia's needs for steel billets locally. It includes a ladle furnace, continuous casting equipment and the upgrade of production units.
Mission head Moumar Sow said the visit would last several days and include talks with all parties and visits to the plant's units, with a view to an integrated project producing about 300,000 tonnes of steel a year, according to Babnet.
IsDB representative in Tunisia Habib Haouala said the bank had financed more than 316 projects in Tunisia since 1975, worth the equivalent of 6.5 billion dollars. Financing for El Fouladh still requires approval by the bank's board after the mission's report, Webdo said.
