Cairo-Mubasher: Egyptian Iron and Steel Co. (HADISOLB) said its board of directors has approved is estimated budget for the fiscal year 2016/17, where it seeks to brought down its losses to EGP 401.6 million.
The steel producer posted EGP 558.8 million in losses in the fiscal year 2014/2015.
The company said earlier, it faced deterioration in its production amounts due to shortage in the coal supplies, in addition to the slowdown of its sales values because of the country’s unstable economic and political conditions.
