Search

Egyptian Iron and Steel Company signed a contract with Tata Steel to boost its production

The Egyptian Iron and Steel Company signed on 27 September 2013 a contact with UK-based Tata Steel Consulting, a subsidiary o

Sep 27, 2013 16:55 IST
facebook IconTwitter IconWhatsapp Icon

The Egyptian Iron and Steel Company signed on 27 September 2013 a contact with UK-based Tata Steel Consulting, a subsidiary of Tata to boost its production levels.

The Egyptian Iron and Steel Company explained that Tata Steel will provide a plan to increase production potential to reach 1.2 million tons of finished steel or 1.45 million tons of semi-finished steel annually.

The Egyptian Iron and Steel Company largely state-owned company.It has been suffering from chronic losses in the past years, which reached 98 million US Dollar in the third quarter of the 2012-13 fiscal year.

The Egyptian Iron and Steel Company get its raw materials from mines in Aswan, Upper Egypt. So, it is not exposed to the volatility of international markets.

Download our Current Affairs & GK app For exam preparation

डाउनलोड करें करेंट अफेयर्स ऐप एग्जाम की तैयारी के लिए

AndroidIOS