Egyptian Steel to open new plant in Ain El-Sokhna next Dec: Abou Hashima

Egyptian Steel Company will inaugurate its new plant in Ain El-Sokhna next December with investments worth 5.5 billion Egyptian pounds ($308 million), its founder Ahmed Abou Hashima announced Tuesday.

The new 440,000-metre plant is set to provide between 5,000 and 6,000 direct and indirect jobs, the Egyptian business tycoon added.