Iron and Steel
Egypt’s President Abdel Fattah El-Sisi ordered on Saturday providing a supporting environment for the heavy industries sector, especially the iron and steel industry.
The report showed that 78.9 percent of these exports went to Spain, Italy, Saudi Arabia, Brazil, US, Kenya.
The company declared that what the Ukrainian company Fash Mash presented is nothing more than a review of the company's various divisions, nor is it a proposal to develop the company or a detailed plan to purchase it.
It recorded losses amounting to LE 437.05 million during the period from July to the end of December, compared to losses amounting to LE 478.18 million during the same period of the previous fiscal year.
The National Company for Iron and Steel is going through a horizontal split-up, a difficult step that was met with widespread criticism, prompting the Cabinet to explain the decision in a statement.
On January 11, 2021, the General Assembly of the Helwan-based company took a decision to liquidate the company due to losses and huge debts.
Its total sales during the period from July to the end of last January amounted to about LE 455.4 million, compared to LE 722.13 million during the same period last fiscal year.
