Egypt to cut price of gas to steel and iron factories – minister

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Egypt will reduce the price it offers natural gas to steel and iron factories to $4.5 per one million thermal units from $7, the minister of industry said during a press conference Wednesday.

Egypt in 2014 slashed its natural gas subsidies to several industries, increasing gas prices by 30-75 percent. It was part of a broad government strategy to cut back subsidies.

Source: Reuters