Egypt floats tenders for major steel plant revamp

Egypt's government has floated a tender seeking bids from international construction and engineering groups for the refurbishment of the country’s largest public company, Egyptian Iron and Steel Company (Hadisolb), said a report. The refurbishment plan includes a financial reform by increasing its capital through loans or current shareholders, and technical restructuring to outline the company’s upgrading production needs, reported Amwal Alghad.

Egyptian Minister of Public Sector Affairs Ashraf El Sharkawy had earlier said that the government had completed the first phase of its financial restructuring process by increasing its capital.

An integrated iron and steel manufacturer, Hadisolb engages in the production and trading of iron and steel products in Egypt. The last date for submission of bids is July 18, it added.