Egypt's Industrial Development Authority (IDA) on Wednesday announced plans to supply four Egyptian steel companies that have recently obtained steel-production licenses with 229 million cubic meters of natural gas.
“The Abu Hashima company in Minya alone needs 109.5 million cubic meters of gas for its production capacity of 500,000 tons of foundation steel and 500,000 tons of steel billets,” said IDA President Amr Assal.
Assal also noted that National Steel of Upper Egypt required ten million cubic meters to produce 70,000 tons of steel billets; Al-Marakby Steel of 6 October City needed 54.75 million cubic meters of gas to produce 250,000 tons of foundation steel and 250,000 tons of steel billets; and Port Said Steel needed 55 million cubic meters of gas to produce 250,000 tons of foundation steel.
“Total steel production for the four companies stands at 1.07 million tons of foundation steel and 1 million tons of steel billets, all of which requires a total of 229 million cubic meters of natural gas,” he said.
Assal also said the IDA had a further 41 million cubic meters of natural gas set aside for steel companies that are now applying for licenses to produce an additional 190,000 tons of steel billets.
Translated from the Arabic Edition.
