By N Saeed
Egypt’s Industrial Development Authority (IDA) has invited bids for eight new iron and steel projects with a total capacity of 2.8 million tonnes annually.
Chairman Nahed Youssef said the projects aim to increase local production of continuous casting billets, thereby contributing to meeting the basic needs of national rolling mills, reducing reliance on imports, saving foreign currency, and enhancing the investment competitiveness of the country’s iron and steel industry.
She said licenses on offer include four with a production capacity of 500,000 tonnes each, and four others with a capacity of 200,000 tonnes each.
She invited companies interested in participating in the projects to purchase the terms and specifications booklet from the IDA headquarters in New Cairo up to 20 August, adding that the deadline for submitting the bids is 9 September.
The industry ministry had said last month that it has finalised licenses for such projects and will soon announce them for investors from Egypt and other countries.
(Writing by N Saeed; Editing by Anoop Menon)
(anoop.menon@lseg.com)
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