It is expected that annual demand for rebar in Egypt will reach 10.5 million metric tons by 2017, ArabSteel has reported. Egypt's current annual rebar production capacity stands at 6.5 million metric tons, according to the estimates of Egypt's Ministry of Trade and Industry.
Meanwhile, the ministry again intends to offer a tender in early October this year for a license to produce rebar at a nominal annual capacity of two million metric tons as well as one million metric tons of billet per annum, as indicated in a statement from Mr. Amre Assal, chairman of the ministry's industrial development committee. Mr. Assal said that the license in question was previously put up for tender in 2008 but, as technical procedures were not completed at the time, no license was issued. It has now been decided to re-offer the license in order to meet market needs and to distribute the production capacity nationwide.
The re-tendering of the license, according to the Ministry of Trade and Industry, is aimed at meeting the rising market demand for rebar, especially as the annual rebar consumption rate is increasing by seven percent annually in Egypt.