Minister of Public Enterprises Hisham Tawfik on Tuesday inspected the premises of Delta Steel Company (DSC), a subsidiary of the Metallurgical Industries Holding Co., to follow up on its latest development works.
Before his tour of the company’s premises, the minister held a meeting with DSC board members as he reviewed the operational status of the first phase of the modernization project which aims at increasing the production capacity of the company to 250,000 tons along with the availability of scrap steel and raw materials needed to operate the electric furnaces.
He was also briefed on steps to implement the second phase of the development plan in cooperation with the Chinese and Dutch sides involved in the modernisation of DSC factories.
Then, the minister made a tour of the company’s factories, urging exerting more efforts to increase revenues, improve performance indicators as well as open up new markets for exportation.
DSC has achieved profits worth LE25 million in the first nine months of the fiscal year 2021/2022. It is estimated that profits could reach up to LE30 million by the end of the current fiscal year.
DSC’s profits reached up to LE24 million in FY 2020/2021 after the end of the first phase of modernisation compared with LE49 million business losses in the year before.
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