Kuwait’s Al-Kharafi to build a second billet plant in Egypt

Friday, 16 January 2009 17:03:23 (GMT+3)   |  
       

Egypt's Industrial Development Authority has approved the offer of the Kuwaiti Al-Kharafi Group to build Egypt's second steel billet plant at an estimated investment cost of $800 million.

Emak for Commercial Agencies Company, a subsidiary of Al-Kharafi Group, will build the plant which will produce an annual 6 million mt of billets.

This authorization comes less than a year after Al-Kharafi was awarded the first-ever contract for the production of steel billets in Egypt.

The newly awarded license is in line with the company's plans to boost its investments in Egypt.


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