September 08, 2008

Egypt shortlists 11 firms for setting up steel factories

Egypt’s Industrial Development Authority has announced the status of auction for steel billets & rebar factory licenses. It said that the number of short listed companies is now 11. In addition, IDA has also accepted applications for joint licenses of billets & steel bars project, expanding existing lines & building a new factory.

Mr Amr Assal CEO of the IDA predicted that all companies would be technically pre qualified & admitted to the auction sessions.

IDA said that the number of licenses earlier put at 4 may increase but the earlier given total capacity limits remain unchanged, which includes 4 million tonnes for billets & 4 million tonnes for sponge iron.