Eight companies in Egypt have received new licenses for steel billet production. The licenses were granted as part of a government plan aimed at boosting local production and reducing imports. They cover capacities ranging from 200,000 tons to 1.5 million tons, with total additional capacity expected to reach approximately 3.7 million tons.
The largest two licenses were awarded to Ataqa Steel and El Ezz El Ashry Steel. Ataqa Steel received a license for 1.5 million tons, while El Ezz El Ashry Steel secured a 1 million-ton license. The combined value of these two licenses is EGP 2.8 billion (USD 90 million).
The other six licenses, each with a 200,000-ton capacity, were granted to Bianco China, North Africa, Misr Steel, and Anter Steel, among others. The total value of these six licenses is approximately EGP 7.5 billion (USD 242 million). These new licenses are expected to significantly increase local steel production capacity.
Winning companies are required to pay the license fees within one year of the Prime Minister's decision, with payments subject to the prevailing interest rate set by the Central Bank of Egypt. The licenses will also enable companies to expand their production, investment, and export plans.
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