Iron
The company will invest $146 million.
Prime Minister Mostafa Madbouli held a meeting Wednesday with the representatives of China's TEDA and Chen Cheng to discuss their plan of establishing a $2-billion factory.
The Central Agency for Public Mobilization and Statistics (CAPMAS) released a statement Tuesday detailing the exports, whose value declined in May 2022.
It added that the United States came fourth in the list of countries importing Egyptian iron and steel at a total value of $44.287 million, while Canada came fifth with imports worth $40.832 million.
A report released Thursday by the Export Council for Building Materials, Refractory & Metallurgy Industries (ECBM) said that Egypt's exports of cast iron and steel went to 64 countries.
A report released by the Export Council for Building Materials, Refractory & Metallurgy Industries (ECBM) said that Egypt's exports of cast iron and steel were to 51 countries.
Presidency Spokesperson Bassam Rady stated that the meeting discussed the measures taken to develop the sectors of cement, steel, and iron.
The June BOP became $3.3 billion instead of $3.61 billion.
The report showed that 64.6 percent of these exports went to Saudi Arabia, Libya, Spain, Kenya, Italy, Sudan, the Netherlands, and the US at a value of $164 million.
Egypt targets revenues of LE 620 million ($36.5 million) from offering new licenses for iron and cement production during fiscal year of 2020/2021, according to the state’s budget plan for 2020/2021.
Egypt Today reviews the details of the decision of collecting temporary protection fees on Egypt's imports of iron billets and steel rebar for 180 days.
The fees are 15 percent for billets and 25 percent for steel rebar in all its forms such as bars, rods, rolls or chopsticks, besides its semi-finished products as billets.
Building Materials Division at the Cairo Chamber of Commerce revealed that iron prices will fall during the month of Ramadan.
The total revenues in the new budget increased by LE 154 billion, compared to LE 835 billion of the current budget.
Egypt’s iron exports to Turkey surged 230 percent in the first months of 2018, recording $3.6 million, compared to $1.1 billion in the same month of 2017
The value of global mining and metals deals hit a four-year high in 2017, according to accountancy firm EY.
Spain ranked first in importing Egyptian iron in December 2017, with a total value of $16.6 million.
The company's liquidity stood at LE 5.02 billion, while net debts reached LE 18.9 billion.
Industrial production in the quarter, excluding crude and refined petroleum, recorded LE 127.7 billion.
The meeting reviewed recommendations of producers to protect this industry and increase its exports.
