Ukrainian company offer to develop Egyptian Iron, Steel’s plant

Metallurgical Industries Holding is studying the offer

  
A worker looks on as a crane lifts a roll of steel wires at a factory in Nantong, Jiangsu province, China July 3, 2018. Image used for illustrative purpose.

A worker looks on as a crane lifts a roll of steel wires at a factory in Nantong, Jiangsu province, China July 3, 2018. Image used for illustrative purpose.

REUTERS/Stringer

ArabFinance: Egyptian Iron and Steel Company (IRON) (EISC) received a financial and technical offer from a Ukrainian company to develop and rehabilitate the company, according to a statement filed to the Egyptian Exchange.

The Ukrainian company will develop Egyptian Iron and Steel’s plants under the revenue-sharing system.

It’s worth mentioning that Metallurgical Industries Holding is studying the offer.

Iron and Steel reported a net loss of EGP 724.140 million in quarter one of 2021.

ESIC, an affiliated company of Metallurgical Industries Holding, is an Egypt-based public shareholding company engaged in the exploitation, production, and trade of iron and steel products. The company provides two product segments, major products, and other Products.

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