Phase I of Delta Steel Mill to be completed in October

A new project that aims to improve the Delta Steel Mill Company would help it achieve 150 million Egyptian pounds ($9.1 million) in net profits instead of its current losses of 50 million pounds annually, said Public Business Sector Minister Hesham Tawfik.

Head of Delta Steel Mill Company Mahmoud Al-Fiki revealed that the first phase of the project — which aims to increase the productive capacity of the company — is to be complete in October.

The project, according to Al-Fiki, is supposed to increase the productive capacity of billet crude by 12 times to reach 500,000 tons per year, in addition to increasing tokens production by 10 times, to reach 10,000 tons per year.

He added that the company has received the required equipment for the project from a Chinese manufacturer, adding that a pilot operation will be complete by September.

The second phase of the project will be fully implemented by June 2020, producing 250,000 tons of billet crude, according to a ministry statement.

Source: Ahram Online