Four Companies Won Steel Licenses in Egypt

IDA Board of Directors agreed on the recommendations submitted by the committee constituted to distribute the available amount of energy on the four companies that awarded the steel licenses, where the governorates of Upper Egypt had obtained 50% of the distributed energy.

IDA Chairman pointed out that the companies that will establish their factories in the Upper Egypt Governorates include: IIC for Steel Plants Management which will establish its factory in Minya and produce 500.000 tons of billet & 500.000 tons of steel rebar & need about 109.5 million m3 of gas, the National Company for Steel which will establish its factory in Upper Egypt and produce 70.000 tons of billet & need about 10 million m3 of gas & Al-Marakbi Company for metal industries which will set up its project in the 6th of October City and produce 250.000 tons of billet & 250.000 tons of steel rebar & need about 54.75 million m3 of gas.

In addition, IDA Chairman pointed out that IDA will prepare a study on how to distribute the energy according to the companies' demands and the result will be announced after completing the 1st phase and paying the value of the licenses.

It is worth mentioning that IDA announced before the offering of licenses of producing 2 million tons of steel rebar & 1 million ton of billet according to the financial and technical qualification system of the companies, which is followed to ensure the availability of expertise and financial capacity.