Egypt to offer licences for 3m tonnes of steel

10 October 2010

A tender is set to be launched by the Egyptian government on Wednesday for licences to produce 3 million tonnes of steel, requiring investments worth EGP3.2bn ($561.9m), Reuters has reported. The licences are for the production of 2 million tonnes of reinforcing bars and 1 million tonnes of billet steel. The month-long tender by the Industrial Development Authority (IDA) comes as the government seeks to boost steel production to meet growing demand from the construction industry and stabilise prices.

A MEED Subscription...

Subscribe or upgrade your current package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.

Get Notifications