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Egyptian Iron & Steel Reports 42% Decline in Loss

Steel News - Published on Thu, 17 Sep 2020

Image Source: Egyptian Iron Steel
Egyptian Iron and Steel Company reported a 42% Year on Year decline in its net loss in the fiscal year (2019-2020. Net loss stood at EGP 887.370 million in the FY 2019-2020, compared to EGP 1,526.885 million incurred in FY 2018/2019.

Earlier, the company stated that the Holding Company for Metallurgical Industries signed an agreement with Ukraine-based Vazhmashimpex to raise the concentration of iron ore in Egyptian oases by using the dry magnetic separation technology. Under the agreement, Egyptian Iron and Steel will establish two plants in partnership with Vazhmashimpex.

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Posted By : Yogender Pancholi on Thu, 17 Sep 2020
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