Egypt’s Steel Tycoon Abou Hashima Contributes EGP50mn to Sisi’s Fund

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Egypt’s steel tycoon Ahmed Abou Hashima donates 50 million Egyptian pounds to the ‘Long Live Egypt’ Fund, established by President Abdel Fattah al-Sisi to aid the country’s ailing economy.

Egypt’s Prime Minister Ibrahim Mahlab received Monday businessman Ahmed Abou Hashima, CEO of Egyptian Steel Co., who made a donation amounting to EGP 50 million to ‘Long Live Egypt’ Fund.

Businessman Abou Hashima said, out of keenness on supporting the national economy, the group secured 150 thousand power-saving lamps at a total value of EGP 1 million as part of the ‘Future of A Nation” campaign. It also joined hands with Al Orman Society in signing a cooperation protocol to re-build 20 villages at an overall cost of EGP 40 million.
Abou Hashima stressed the group’s commitment to providing tons of steel rebars to the government’s youth housing projects, adding that the group supported the national economy through shouldering the energy prices differences amounting to EGP 75 million.
Abou Hashima also announced two new projects; one for sponge iron and the other one for cement.

Egypt’s economy has struggled in the three years since the ouster of Hosni Mubarak in 2011, with a soaring deficit and dwindling foreign reserves.