PM Follows Up Progress in Developing Aluminum Complex in QenaSource: www.export-egypt.com 11/16/2022, Location: Africa |
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Prime Minister Mostafa Madbouli held a cabinet meeting to follow up on the progress made in developing the aluminum complex in Qena's Nagaa Hammadi city.
The meeting was attended by Finance Minister Mohamed Maait, Public Business Sector Minister Mahmoud Esmat and First Assistant Minister of Finance for Economic Affairs Sherine El Sharkawy. The premier said that an integrated study was conducted to upgrade the aluminum complex in Nagaa Hammadi city and increase its production capacity. Madbouli added raising the complex's production capacity will contribute to reducing imports, saving hard currency and exporting some of its products to foreign markets. On his part, the public business sector minister said the current annual production capacity of Egyptalum stands at nearly 320,000 tons, with the company's exports standing at 60%-70% of the total production, in addition to meeting the local market's needs. Esmat added the project to develop the Nagaa Hammadi aluminum complex targets rehabilitating the existing production lines and the power supply system, adding an annual production capacity of 100,000 tons and enhancing the quality and efficiency of aluminum products. The public business sector minister noted that a new aluminum factory would be established in Safaga city with an annual production capacity of 300,000 tons. |
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