New aluminum mill to be established in Upper Egypt

CAIRO – 19 May 2017: A new aluminum mill, at a cost of 10 billion EGP ($553.9 million), will soon be established in Naga Hamday, Southern Egypt, said Abdel-Zaher Abdel-Sattar Hassan, the chairman of Egypt’s biggest Aluminum producer Egyptalum, on Thursday.

France and China, alongside a Gulf-based factory offered to provide the company with an adequate amount of Aluminum that will help meet domestic market an export demand, he added.

The company’s profits this fiscal year reached 849 million EGP ($47 million), stated Hassan, adding that the company is also targeting to increase production to 295,000 tons per annum.

The official data highlighted the boost in the company’s sales which amounted to 6.5 billion EGP, compared to 4 billion EGP over the same period last fiscal year, while the company’s exports rose to 3.9 billion EGP versus 2 billion EGP last year.