Egypt’s exports of iron and steel rose by 13% in the period from January to the end of June 2018
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The Egyptian Iron and Steel Company, one of the public sector companies, managed to reduce its losses in the first quarter (Q1) of the current fiscal year compared to the same period last year. According to the company’s statement to Daily News Egypt, it had a loss of EGP 191m, compared to EGP 233.6m in …
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The plant’s output will reach 500,000 tonnes per year
The project will be established on Suez Canal territory, north-west Gulf of Suez with a production capacity of 1.2m tonnes
The production value in the public business sector as a whole in 2014/2015 reached EGP 95bn, compared to EGP 114.8bn in 2013/2014, with a decrease of 17.3%.
The company’s losses decline by 16% YoY
Egyptian imports from these countries amounted to approximately $810m during 2013, compared to $1bn during 2012. The most important receiving countries for Egyptian exports are Libya, Sudan, Kenya and South Africa, according to El-Leithi.
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Abdel Nour met with the companies to discuss repercussions of increase in energy prices on iron
The government had recently increased natural gas prices by $3 for the iron and steel industry, bringing the total price to $7 per million BTUs.
Abdel Nour said that the investment climate has improved significantly over the past three months.
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