Egypt: Approval of a license for “Delta Steel Company” to increase production

Hisham Tawfiq, Minister of Public Business Sector, said that it was agreed to resolve the Delta Steel Company license crisis and for the company to obtain a license to increase production. In statements on the sidelines of Jusoor’s signing of agreements with service providers, the minister explained that the company will pay for the new license to increase production and that “what applies to everyone will be applied to it.” Last November, the Industrial Development Authority issued two licenses for billet production in Egypt, with a production capacity of 1.1 million tons each and a license to produce 200,000 tons annually. The minister said that the company has withdrawn the tender conditions booklet and will apply for a license to increase its billet production. Last year, the company completed the first phase of development, which raised the value of the company’s production from 50,000 tons of steel to 250,000 tons annually, with new equipment and modern technology, which were installed last year, while the second phase of development is awaiting implementation, with production reaching 500,000 tons annually.