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Monday, December 7 - 2009

Ezz Steel to invest $475m to increase output

  • Egypt: Monday, August 31 - 2009 at 11:38

Egypt's Ezz Steel has said it is investing $475m to set up a new billet production line and a direct reduced iron (DRI) plant. The firm will invest $75m in a new billet production line to be located at its flat steel plant in Suez, east of Cairo, and $400m in a new facility to make DRI also in Suez, Kamel Galal, head of investor relations told Reuters. The DRI plant will have a capacity of 1.8 million tons a year and is set to start in the second half of 2011, he said.

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