Company: Sonasid
Country: Morocco
Sector: Steel
CEO: Ismail Akalay
Website: Not publicly listed
Careers Page: Not publicly listed
LinkedIn: Not publicly listed
Email: Not publicly listed
Headquarters: Casablanca, Morocco
Founded: 1974
Valuation/Revenue: $569.2m revenue; $769.5m market value (African Business Top 250, 2025)
Sonasid (Société Nationale de Sidérurgie) is Morocco’s leading steel manufacturer, producing rebar, wire rod and other long steel products mainly for the domestic construction industry from plants in Nador and Jorf Lasfar. It has traded on the Casablanca Stock Exchange for decades and is majority controlled by a joint venture between global steel giant ArcelorMittal and Moroccan conglomerate Al Mada.
What Does Sonasid Do?
Sonasid manufactures long steel products, primarily reinforcing bar (rebar) and wire rod used in construction and infrastructure projects across Morocco. Its two production sites, an electric-arc-furnace mill at Jorf Lasfar and a rolling mill at Nador, allow it to convert scrap metal and billets into finished construction steel, positioning it as the dominant domestic supplier in a market historically protected by import tariffs designed to shield local steelmakers from cheaper foreign steel, particularly from Turkey and Ukraine.
Is Sonasid Legit?
Yes. Sonasid is a long-standing, publicly traded industrial company founded in 1974 and listed on the Bourse de Casablanca. It publishes regular financial statements, is one of the most closely tracked industrial stocks in Morocco, and is majority owned by ArcelorMittal, the world’s second-largest steelmaker, in partnership with Al Mada, Morocco’s largest private investment holding company (formerly SNI/ONA, historically linked to the Moroccan royal family’s business interests).
Who Owns Sonasid?
Sonasid is majority controlled (roughly 64.9%) by Nouvelles Sidérurgies Industrielles (NSI), a joint venture between ArcelorMittal and Al Mada. The remaining shares are split between free-float public shareholders (around 19.6%) and Moroccan pension and insurance institutions (around 15.5%), making it a case of a strategic industrial asset with heavy institutional and foreign strategic ownership alongside a genuine public float.
How Big Is Sonasid?
According to African Business magazine’s Top 250 companies in Africa list for 2025, Sonasid generated revenue of approximately $569 million against a market value of roughly $770 million, ranking 145th among Africa’s largest companies. Steel demand in Morocco is closely tied to the country’s construction and infrastructure cycle, including major projects tied to the 2030 FIFA World Cup (co-hosted with Spain and Portugal) and ongoing public housing and transport investment, which has supported demand for Sonasid’s core rebar business in recent years.
Who Is the CEO of Sonasid?
Ismail Akalay serves as Directeur Général (CEO) of Sonasid, overseeing the company’s steelmaking operations and its relationship with parent shareholders ArcelorMittal and Al Mada. Moroccan industrial leadership at this level typically also carries responsibility for navigating trade policy questions, since Sonasid has repeatedly sought government safeguard measures against low-cost steel imports that pressure its margins.
Is Sonasid Publicly Traded?
Yes. Sonasid has been listed on the Casablanca Stock Exchange for many years and is one of the exchange’s benchmark industrial stocks, closely watched as a bellwether for Moroccan construction activity given its dominant domestic market share in rebar.
How Does Sonasid Compare to Its Competitors?
Within Morocco, Sonasid has limited direct large-scale domestic rivals in long steel, giving it an effectively dominant position in rebar supply, though it competes with imported steel from Turkey, Ukraine, Egypt and China whenever import tariffs or safeguard duties are relaxed or expire. Regionally, it is smaller than major North African steelmakers such as Egypt’s Ezz Steel, but benefits from proximity to Morocco’s construction boom and preferential positioning as the local incumbent.
What Has Sonasid Been in the News For Recently?
Sonasid’s results in recent years have tracked Morocco’s construction cycle closely, with periods of margin pressure tied to volatile scrap metal and energy costs (its Jorf Lasfar plant is electric-arc-furnace based, making it energy-intensive) and periodic advocacy for continued import protection. The company has also featured in coverage of Morocco’s infrastructure build-out ahead of the 2030 World Cup, which analysts expect to be a multi-year tailwind for domestic steel demand.
Links
Website: Not publicly listed
Careers Page: Not found
LinkedIn: Not found
Email: Not publicly listed
FAQ
Is Sonasid legit? Yes, it is a JSE-equivalent Casablanca-listed, ArcelorMittal/Al Mada-controlled steel manufacturer operating since 1974.
Who owns Sonasid? A joint venture between ArcelorMittal and Al Mada (Nouvelles Sidérurgies Industrielles) holds roughly 65%, with the rest publicly traded.
Who is the CEO of Sonasid? Ismail Akalay is Directeur Général.
How big is Sonasid? Revenue of about $569 million and a market value near $770 million per African Business’s 2025 Top 250 ranking.
Where is Sonasid headquartered? Casablanca, Morocco, with production facilities in Nador and Jorf Lasfar.
What does Sonasid make? Rebar and wire rod steel products for the construction industry.