Abou Hashima sets up iron factory in Port Said

CAIRO – 2 October 2017: Governor of Port Said Major General Adel al-Ghadban signed a land titling contract on Monday with businessman, CEO and Chairman of Egyptian Steel Ahmed Abou Hashima to set up an iron factory in Port Said.

Abou Hashima stated in a press conference that the labor of the new iron factory will be from Port Said Governorate and that he will develop its productivity and expand it in the next era.

For his part, the governor of Port Said welcomed any economic investments in the province, also pointing out that it was an honor to have Abu Hashima invest in the territory of the province.

On the other hand, Governor of Sohag Ayman Abdel-Moneim praised the quickness of the implementation and completion of the Egyptian cement factory in the industrial zone in west Sohag.

Abdel-Moneim added that it is expected to accommodate 3,000 workers with a capacity reaching 3,000 tons per day, with investments estimated at LE 5.5 billion ($310 million).

He added that this vision of economic development in Sohag is part of the Egypt 2030 vision by President Abdel Fatah al-Sisi and the government, which all the entities of the state should implement.

“This is the axis of sustainable development in Sohag – by changing the structure of the local economy of the province from an economy based on agricultural activity to an economy based on industrial and tourism activity,” said Abdel-Moneim.