Egypt’s Minister of Trade and Industry Tarek Qabil has inaugurated Saturday el Jiyashi steel factory in Sixth of October city with a production capacity of 240,000 tonnes of steel annually.
The factory is worth 500 million Egyptian pounds, while 250 million pounds will be pumped to establish a new production line in the coming months, with a production capacity of 360,000 tonnes of steel to reach an overall production capacity of 600,000 tonnes of steel.
In press statements during the inauguration, Qabil underlined that the inauguration of the factory is considered to be a strong addition to Egypt’s steel production to meet the local market’s needs.
He underscored his ministry’s keenness to develop the manufacture of steel, as it is considered to be a strategic industry to Egypt.
Source: MENA
