Mahmoud Esmat, Minister of the Public Business Sector, discussed with Cheng Chuite, Chairman of the Board of Directors of the Chinese Shengli Group of Companies, and the delegation accompanying him, aspects of cooperation and ways of partnership to continue the Delta Steel Company development project, increase operation, reach production to maximum capacity, and add new industries to meet the needs of the local market.
According to a statement from the Ministry of Business Sector on Wednesday, the Chinese Shengli Group of Companies operates in the field of iron and steel manufacturing, manufacturing equipment and foundries, and owns factories in many countries in the Middle East and South Asia.
The minister’s meeting with the delegation of the Chinese company was attended by Mohamed Al-Saadawi, Chairman of the Holding Company for Metallurgical Industries, where the plan for developing and rehabilitating the Delta Steel Company, establishing new foundries to produce cast iron, increasing operating rates, billet production, and raising production capacity were reviewed.
The meeting also witnessed a review of how to sustainably provide industrial scrap supplies to reach the maximum capacity of new production lines, as well as owned assets that help in targeted partnership and expansion in the field of activity.
During the meeting, the two sides discussed various forms of partnership in a way that serves the interests of both parties and ensures the development of production and the opening of markets for export, as well as training workers, raising efficiency and improving performance so that production exceeds 500 thousand tons while maintaining maintenance programs and continuity of production.
The Minister explained that there is preparation for various types of partnerships that contribute to developing the company’s performance and achieving the targeted operating rates at maximum capacity, which represents 10 times the production capacity before development, in order to meet the needs of the local market and export in light of the increased demand for the company’s products, and to achieve a return on investment within the framework of the plan. Development and modernization that have been implemented.
He stressed the constant and continuous endeavor to improve the quality of the product and work in accordance with the latest scientific standards for the steel industry with the aim of providing the needs of the local market, reducing imports, opening new markets while expanding existing markets, and optimal investment in human resources through education, training and continuous development programmes.
The minister pointed out that the company’s development plan includes establishing a new steel and cast iron foundry with a capacity of 10,000 tons annually, which is equivalent to 10 times the production capacity of the old foundry.
Delta Steel Company is one of the leading companies in the field of steel and cast iron industry, and the oldest iron and steel factory in Egypt, having been established in 1947.
