Metinvest International, the Geneva-located sales subsidiary of the Ukrainian mining and steel producing group Metinvest, has entered into a business cooperation agreement with National Port Said Steel Company (NPSS), a Cairo-based manufacturer of high-strength, hot rolled concrete reinforcing bars.
Accordingly, under the agreement signed between NPSS and Metinvest International, the companies have formulated a commercially viable model that will ensure a seamless collaboration between the two entities.
The scope and scale of the cooperation will foresee information exchange on steel market conditions and trends, and the share of knowledge on technical information relating to the development of mining and steel industry operations.
Egypt-based NPSS, a part of Exeed Industries, a privately-held Abu Dhabi-based diversified industrial investment holding company, commenced its operations in 2002 out of its 50,000 square meter manufacturing facility in Port Said which has an annual capacity of 360,000 mt.
Metinvest International is responsible for the export of iron ore raw materials, as well as semi-finished and finished steel products manufactured by Metinvest group's mining and steelmaking companies to foreign markets outside the Ukraine and CIS region. The company has agencies in 12 countries around the world.