Hisham Tawfik, Minister of Public Business Sector, announced that Delta Steel Company
achieved profits in the first 9 months of the 2021/2022 fiscal year,
amounting to 24 million pounds, and it is estimated that it will exceed 30 million
pounds by the end of the fiscal year, while it turned to profitability
in the 2020/2021 fiscal year after implementing the first phase From
development program , it achieved 24 million pounds, compared to a loss of 49 million
pounds in 2019/2020.
his announcement came during his visit to the Delta Steel Factories of the Holding
Company for Metallurgical Industries, one of the companies of the Ministry of Public
Business Sector,to follow up on the developments of the development project.
The minister began his visit by holding a meeting with the company’s board of directors
to follow up on the position of the development project, which aims to raise the
company’s production capacity to 500,000 tons per year of billet iron, in addition to
establishing a foundry with a capacity of 10,000 tons per year.
Tawfiq reviewed the operational situation of the first phase of the development project
with a production capacity of 250 thousand tons and the availability of production
requirements from scrap and raw materials to operate the kilns with the design energy,
as well as following up on the completion of the implementation of the second phase
of the kilns and foundries, in cooperation with the Chinese and Dutch sides, according
to the plan and the specified timings.
The Minister toured the company’s factories to inspect the ongoing development work.
Tawfik directed to work on raising the proportion of production capacity to increase
revenues and thus increase profitability and improve all company performance indicators,
and make more effort to open foreign markets to activate exports, in addition to
working quickly to exploit a plot of land belonging to the company – outside the scope
of the development project – in establishing a housing project in cooperation with The
Holding Company for Construction and Development.
