19
Oct
14:02
Egypt, Saudi study Gulf of Suez steelworks JV
Egypt's Suez Canal Authority (SCA) has signed a $500 million agreement with Saudi Prince Alwaleed bin Saud to carry out a feasibility study into the construction of a new steelworks at Ain Sokhna on the Gulf of Suez.
The deal envisions a 1.2 million tonnes/year capacity plant operating under the name Suez Canal Iron and Steel, which will be jointly owned by Egypt and bin Saud, according to an SCA statement. Overall investment in the project, in which bin Sau…
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Very good overview of the weekly steel market.
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