October 12, 2008

Rebar production in Egypt up by 7% YoY

Al Alam Al Yom reported that rebar production in Egypt has increased from 781,000 tonnes to 836,000 tonnes during the same period with a growth rate of 7% and sales increased with a growth rate of 38%.

Mr Osman Mohamed Osman Economic Development Minister of Egypt asserted that there is a rapid growth in the industrial production whereas the growth rate reached 7.5% in the first quarter this year of the fiscal year 2007-2008, Pointing that the industrial production hit EGP 74.4 billion this quarter compared against EGP 69.2 billion during the same comparable period of the previous fiscal year.

He added that there is consistent expansion in the production and sales of cement and steel rebar.