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Egyptian Iron and Steel company reports robust sales, bolsters infrastructure sector

The Iron and Steel Company for Mines and Quarries in Egypt achieved sales of 19.1 million pounds in iron and steel during February 2024.

Egyptian Iron and Steel company reports robust sales, bolsters infrastructure sector

The Iron and Steel Company for Mines and Quarries in Egypt has reported robust sales during the month of February 2024, totaling 19.086 million pounds. This achievement underscores the company’s pivotal role in supporting the nation’s infrastructure and construction sector.

Sales from the Bahariya Oasis mines contributed significantly, amounting to 19.08 million pounds. These mines play a crucial role in supplying raw materials for various construction projects.

The sales value from the Bani Khaled-Samalut quarries reached approximately 1,680 pounds. These quarries are essential for sourcing quality materials used in building and infrastructure development.

The Iron and Steel Company for Mines and Quarries recorded a net profit of 73.77 million pounds during the period from July to December 2023. This represents an increase compared to the same period in 2022 when profits stood at 69.5 million pounds.
The company’s revenues also saw growth during the first half of the current fiscal year, reaching 166.61 million pounds, up from 152.6 million pounds during the same period in 2022.

Despite market fluctuations, the company’s consistent performance demonstrates resilience and reliability.
Builders, contractors, and investors can rely on Egypt’s iron and steel supply chain for their projects.
The Iron and Steel Company for Mines and Quarries continues to contribute significantly to Egypt’s economic growth and development. As the construction industry thrives, these sales figures reflect the nation’s progress.

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