Cairo- Mubasher: Mitsubishi Heavy Industries, Ltd expressed its intention to develop Egyptian Iron and Steel (HADISOLB) complex by developing the company’s current firms and using modern technology, said Egyptian trade minister Tarek Qabil on Tuesday.
Mitsubishi also offered to conduct a feasibility study for the iron mines in Aswan and New Valley.
Qabil added that the Japanese company agreed to present an integral offer to the Egyptian government, to be studied, including the costs and work plan, by the end of June, according to a statement/press release
HADISOLB, a subsidiary of Metallurgical Industries Co., posted a loss of EGP 447.6 million in the first nine months of 2015, while accumulated losses reached EGP 3.74 billion by the end of Q3-15.
