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Business sector: Production of 500,000 tonnes from Delta Steel plants next year

The Ministry of Public Enterprise Sector revealed the latest development in the Delta Steel factories, affiliated to the Holding Company for Metallurgical Industries, at about $45 million. The project aims to replace the old rebar factory, which produced about 46,000 tonnes, with the new plant, with a total capacity of 500,000 tonnes of billets annually in two phases.

The ministry indicated in a recent report that in addition to establishing new steel and cast iron foundry with a capacity of 10,000 tonnes annually with a total investment cost of 45 million dollars to develop the company, to be financed from the proceeds of selling 32 unused acres owned by the company.

The company explained that the license was obtained from the Industrial Development Authority to increase production capacity. However, the first phase of the project was implemented to increase production capacity by 250 000 tonnes. Which was positively reflected in the performance of the company, which turned to profitability at about 24 million in 2020/2021 and 21 million in 9 months of the fiscal year 2021/2022, compared to a loss of 49 million pounds in the fiscal year 2019/2020.

The company added that the second phase of work is underway to increase production capacity by 250 000 tonnes, and the Dutch company GEMCO was selected through a public tender to implement the foundry construction project. The implementation is expected to be completed in 2023.

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Arab Iron and Steel Union was established in Algeria in 1972 as the first Arab Union of the Arab countries to be founded under the Council of Economic Unity umbrella in the League of Arab States.

It is the first Arab organization to specialize in the iron and steel field, and its tasks fall within making plans aimed mainly at developing and growing the iron and steel industry in the Arab world.

Arab Iron and Steel Union comprises a wide range of multi-activity companies related to the iron and steel industry from the Arab countries.

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