Egyptian Steel

Egyptian Steel
Founded Cairo, Egypt, 2010
Key people
Products steel production and steel products
Website www.egyptian-steel.com

Egyptian Steel is a manufacturer of steel and steel products. The company was founded in 2010 and is headquartered in Cairo, Egypt.

History

Egyptian Steel was co-founded by Ahmed Abou Hashima and Qatari investor Shiekh Mohamed bin Suhaim Al Thani.[1][2][3] Hashima is the company's CEO. Egyptian Steel is the holding company for National Port Said Steel, IIC for Steel Plants Management, and Al Khaleeg Trading for Building Material.[4] Egyptian Steel is headquartered in Cairo, Egypt.[1]

Production

The company manufactures steel and steel products such as rebar, wire rods and billets.[5] As of October 2013, Egyptian Steel produced approximately 300,000 tons of steel annually at its Port Said plant.[6]

Business

In March 2012, Egyptian Steel and Danieli SpA entered into an agreement to build "the largest industrial complex in the Middle East and North Africa region for the production of rebar and billet" in Beni Suef.[2] The Beni Suef location, along with another new location in Ain Sukhna, began production in early 2015.[6]

In September 2012, Egyptian Steel and Danieli SpA signed a $210 million (Egyptian pound), (USD $34.5 million) agreement for Danieli SpA to provide production lines for Egyptians Steel’s plant in Ain el-Soukhna.[2][7] The agreement also provides production lines for National Port Said Steel Co.[7] At the time, it was estimated that the agreement would create 20,000 new jobs.[7]

Egyptian Steel offered an initial public offering for the public to purchase company shares in 2015.[6]

References

  1. 1 2 Head Office Contacts; Egyptian Steel website;
  2. 1 2 3 Egyptian Steel Signs $210 million Deal with Danieli; Daily News Egypt; 9 September 2012
  3. ↑ Gamble pays off for Egyptian Steel founder; The Times UK (subscription required)
  4. ↑ Group Structure - About Us; Egyptian Steel website;
  5. ↑ Products; Egyptian Steel blog website;
  6. 1 2 3 Summit - Egyptian Steel Eyes Leap in Capacity, IPO; Reuters; 27 October 2013;
  7. 1 2 3 Egyptian Steel, Danieli Sign Plant Supply Contract, MENA Says; Business Week; 12 September 2012;

External links

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