Egypt Steel Magnate Eyes Investments in Fertilizer, Mining But Lacks Enough Liquidity

Egypt’s rising star steel magnate Ahmed Abou Hashima says he is looking forward to making new investments within the upcoming phase in both fertilizer and mining industries seeking to crown his existing businesses in building materials sector.

Mr. Abou Hashima – the Chairman of Egyptian Steel – has told Amwal Al Ghad that the company’s current capital is insufficient for starting any investments in these two sectors in the meantime. He explained that the company’s whole liquidity is currently designated for the steel sector investments.

Elsewhere, Mr. Abou Hashima referred that his company is also targeting future investments in Arab countries in sector of building materials.

Egyptian steel was founded in 2010 by Mr. Abou Hashima and co-founded by Shiekh Mohamed Abou Suhaim Al Thani, a Qatari investor. The company has grown rapidly despite the short period since its establishment.