By: Ahmed Allam
Cairo - Mubasher: The chairman of Egyptian Iron and Steel said that the estimated cost of the company’s development plan amounts to $200 million (EGP 3.68 billion).
Mohamed Saad Nageada also told Mubasher on Wednesday that experts from MCI, the British company that is the re-establishment advisor, are set to arrive between 21 and 24 February to discuss different aspects of the company’s development plan, from technical, financial and marketing perspectives.
The company’s board is keen on developing some units while in the same time continue with regular operations, Nageada added.
Iron and Steel will soon issue a tender offer for casting kettles at an estimated value of $4 million (EGP 73.6 million), adding that the upgrading Oven number 3 cost EGP 30 million was self-financed by the company, noting that the project will be finished by April, one month ahead of schedule.
