Since the beginning of this year, Egypt’s iron industry has been subjected to a legal battle started by integrated steel plants and hot rolled steel manufacturers after the Ministry of Trade and Industry issued a resolution in April, imposing a temporary import tariff of 15% on iron billets and 25% on steel rebar, set for 180 days ending in October.
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Production values for chemicals and its products reached EGP 28.8bn for Q3 of 2018, compared to EGP 14.8bn for Q3 of 2017, an increase of 94.4%, due to increases in detergent and fertiliser production as well as an increase in market demand.
Egypt’s exports of iron and steel rose by 13% in the period from January to the end of June 2018
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The Egyptian Iron and Steel Company, one of the public sector companies, managed to reduce its losses in the first quarter (Q1) of the current fiscal year compared to the same period last year. According to the company’s statement to Daily News Egypt, it had a loss of EGP 191m, compared to EGP 233.6m in …
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The plant’s output will reach 500,000 tonnes per year
The project will be established on Suez Canal territory, north-west Gulf of Suez with a production capacity of 1.2m tonnes
The production value in the public business sector as a whole in 2014/2015 reached EGP 95bn, compared to EGP 114.8bn in 2013/2014, with a decrease of 17.3%.
The company’s losses decline by 16% YoY
Egyptian imports from these countries amounted to approximately $810m during 2013, compared to $1bn during 2012. The most important receiving countries for Egyptian exports are Libya, Sudan, Kenya and South Africa, according to El-Leithi.
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Production process stopped, workers to continue striking until demands are met, says labour leader
Risen value of several commodities influenced production value, government statistics agency indicates
Abdel Nour met with the companies to discuss repercussions of increase in energy prices on iron
The government had recently increased natural gas prices by $3 for the iron and steel industry, bringing the total price to $7 per million BTUs.
Abdel Nour said that the investment climate has improved significantly over the past three months.
Demonstration expected Wednesday
The workers call on the government to resign after failing to resolve the crisis
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Gian Pietro Bordignon, the director of WFP in Egypt, spoke to Daily News Egypt about the organisation’s objectives and activities in the country.