07
Apr
01:00
Hadisolb signs revamp MoU with China's Sinosteel
Egyptian Iron & Steel Company (Hadisolb) has signed a memorandum of understanding (MoU) with China’s state-owned Sinosteel for the rehabilitation of its troubled steelworks, Kallanish learns from the Egyptian producer.
The $420 million revamp will be funded by a Sinosteel loan to Hadisolb, underwritten by Egypt’s finance ministry. The project is scheduled for completion by mid-2017 and will not change Hadisolb’s current 1.2 mi…
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