Hisham Tawfiq, Minister of the Public Business Sector, confirmed that the Delta Steel Factory of the Holding Company for Metal Industries is the oldest factory in Egypt and that the opportunity to develop it was existing, so the Ministry took the development plan due to the feasibility of this, explaining that the development of the factory will be completed to operate at the new maximum capacity Him in the middle of 2022.
In statements to Al-Dustour, the Minister of Business Sector added that the ministry is pumping 800 million pounds into the factory for development. The first phase, which is to increase production capacity from 50 thousand tons to 250 thousand tons of billets, has been completed, and the second phase has begun to add 250 thousand tons. Production will reach 500 thousand tons by mid-2022, and work is underway to establish a foundry inside the factory, which will support the iron and steel industry in the company.
The Ministry of Public Business Sector is working on developing the revenues of its subsidiaries within the framework of the vision of exploiting the owned assets and investments, qualifying the administrative staff in the companies, modernizing management systems, and automating work systems, within the framework of supporting the companies owned by it to compete in the local markets.