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The International Metal Bulletin Magazine chose Egypt to hold a conference for iron due to Egypt's great role in iron industry at the Middle East.
IDA Chairman presented Egypt's iron industry trail and the obstacles face this industry.
IDA Chairman also pointed out that the Ministry's policy aims at achieving balance and integration in iron production as long as the related industries besides facilitating its production and decreasing the effects of scrap iron increasing price in addition to promoting the rates of this industry's production inputs in order to fulfill or increase the consuming rates and providing iron through sector production
IDA Chairman indicated that there are 23 great companies in Egypt with estimated annual production of 6.5 million tons while the exports in 2006 reached to 641.000 tons which equals 12% of the production. IDA's plan aims at redressing the weakness gap in producing iron, caused by iron scrap's shortage; by replacing the spongy iron factories with scarp iron ones,
IDA Chairman added.
IDA Chairman also confirmed that IDA purposes to facilitate the operation process and control this industry by producing billet in Egypt with production capacity that equals producing spongy iron. Moreover, IDA planned to agree on granting licenses to factories of iron agglomerates with production capacity of more than 10 million tons a year. IDA also granted licenses of more than $ 5 billion to 6 companies
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