Engineer Mohamed Saadawi, Chairman of the Metallurgical Industries company, revealed the goal of operating Delta Steel at full production capacity in the second quarter of this year.
In a press conference organized by the Ministry of the Public Business Sector, he stated that the company’s first production line was facing some problems, which required the manufacturers to conduct a comprehensive assessment of the line, determine the cause of these problems, and develop a plan to rehabilitate it.
Saadawi explained that the plan includes replacing some spare parts, which take three months to manufacture but are expected to be delivered within two months. He noted that installing these parts will contribute to the line’s return to full production capacity, especially since the second line is operating at a higher production capacity.
During the meeting, he reviewed the stages of Delta Steel’s revival, from consideration of liquidation to the decision by the Holding Company for Metallurgical Industries to retain the company and develop a plan for its revival, especially as it is the oldest steel company in Egypt. Established in 1946, it underwent numerous phases, including nationalization and other processes, until the early 2000s, when its equipment became dilapidated and its technology outdated.
Al-Saadawi noted that the development plan included contracting with Chinese companies to launch two production lines with a capacity of 500,000 tons per year, as well as contracting with a Dutch company to revitalize the foundry, which is set to open soon.
