Egypt studies two Russian offers to bolster steel industry

Egypt is currently studying two offers from Russian companies to upgrade the steel furnaces of Egyptian Iron & Steel (HADISOLB) to raise production up to 1.2 million tonnes from 300,000, said Investment Minister Ashraf Salman.

In a press conference held Sunday, the minister added that the winner of the bid would be announced in January, while the implementation of the plan would be carried out over 14 months.