A contract was signed on October 15th 2012 in the investment ministry to establish a steel plant with EGP 1.4 billion investments in Beni Suef that covers 500,000 meters aiming to produce 500,000 tonnes of steel in 17 months and 500,000 tonnes of billets as of its operations steel in 21 months.

The steel plant will provide 1,500 direct job opportunities and 3,000 indirect ones.

The signing ceremony held at the presence of investment minister Mr Osama Saleh and industry and foreign trade minister Mr Hatem Saleh.

Investment minister pointed out that one of the Indonesian companies has signed a contract to pump USD 400 million investments in cars industries and cars feeding industries.

The ministry is laying down a plan to upgrade business sector and establishing a large industrial base to produce international and domestic products contributing to the Gross National Product GND.

Source - All Africa

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