Minister of Trade and Industry Rachid Mohamed Rachid said sufficient gas supply is available for Egyptian industries through 2015. Supply should not be an investment concern, he added.
Accompanied by Prime Minister Ahmed Nazif and other cabinet members, Rachid spoke during the inauguration of a number of new industry projects at Ain Sukhna, Suez.
Egypt has achieved self-sufficiency in flat steel production, Rachid told Al-Masry Al-Youm. The flat steel market has suffered shortfalls this year, he added, contributing to a 40 to 60 percent Egyptian export surplus.
Minister of Petroleum Sameh Fahmy, at the same event, said a consortium comprised of Engineering for Petroleum and Process Industries (ENPPI), the Egyptian Petroleum Company (Petrojet), and Japanese and Chinese firms, provided US$30 million to establish a new factory in the Suez region. The factory is manufacturing oil industry instruments, Fahmy said.
The consortium, according to Fahmy, will soon begin operations with two other plants.
Translated from the Arabic Edition.
