Mr Kamel Jalal finance manager & investor relations director of Ezz Steel announced that it will restart the Suez flat steel mill during March of this year after it had been stopped for almost a year.

The billet plant is expected to start production during Q2 2010, with 1 million tonnes per year of capacity, thus the plant's overall capacity shall reach 2 million tones of crude steel including one million tons of steel slabs used to produce flats.

This reopening decision comes in light of the demand revival in the foreign steel markets and the rise in prices.

Ezz Steel had stopped work in the Suez steel flats mill since the beginning of last year in the wake of the decline in global steel demand which led to a depression in flats sales up to 30%, i.e. nearly one million tons, after reaching 1.45 million tonnes in 2008.

(Sourced from Arab Steel)