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Mashreq Petroleum calls tenders for storage tanks
2004 August 28

  Mashreq Petroleum has invited five prequalified group of contractors to bid for the contract by late September to build an estimated $25-30 million bulk liquids terminal, to be located near Port Said on the Mediterranean coast. The project will involve construction of a 2 million-tonne-a-year facility with 150,000 cubic meters of storage capacity. Scott Wilson of the UK is the consultant.

Prequalified group of contractors are:
1) ABB, Europe with Bamag, Germany
2) Besix, Belgium, with Orascom
3) Chicago Bridge & Iron, US with Archirodon Construction (Overseas), Geneva-registered
4) Construction Industries, local
5) Interbeton, Netherlands
6) STFA with Fernas, both of Turkey

El Ezz Steel (EESL) Reports FY2003 Results
2004 July 20

  El Ezz Steel (EESL) announced a reviewed net loss worth EGP 23,019,104 for the period from January 1 till December 31, 2003. 

This figure compares with a net loss of EGP 21,457,713 for the period from January 1 till December 31, 2002. 

The full financial statements are available at the CASE Disclosure Department.

Ezz Industries to reach 2.200 KT HRC production in 2004
2004 June 14

  Egyptian steelproducer EZZ Industries, expects to produce 2.2 mio Tons of HR Coils in 2004, compared to 1.5 mio tons in 2003, in their 2 steel coil plants in Dikheila (ANSDK)and Ezz Flat Steel (EFS).
Presently, Al Ezz produces 1mm up to 12.7mm thickness HRC, but expects to reach 0.8mm thickness production later this year.
They already skinpass HRC at ANSDK, and expect to start skinpassing by end 2004 in their EFS mill in Suez.
Consumption of HRC in Egypt is estimated to be around 750.000t/year.
Ezz Flat Steel production provides flat steel to Egypt’s growing automotive and consumer goods industries with a large portion being exported to international customers. 
376KT of steel coils were exported in 2003, out of which 39% to Middle East countires (compared to 8% only in 2002).
The government mills Hadisolb are producing about 350.000t per year of hr coils.

Ezz produced 2.5 mio tons of steel rebars in 2003
2004 May 10

  Ezz produced 2.5 million tons of rebars in 2003, out of which 367.000t were exported.
Domestic sales prices rose by 70% from Jan 2003 to Jan 2004 , and by another 11% in March 2004. 
Price increases were reflecting increased international base material prices

Egyptian Steel companies help to lead Bourse to 4-Year High
2004 April 5

  Egyptian steel companies and some other stocks expected to benefit from an improvement in Egypt’s real estate sector helped lead the stock market to a more than four-year closing high yesterday. The official weighted close was 20.14 pounds. Overall, the benchmark Hermes index was last quoted up 185.53 points, or 1.3 percent, at 14,413.65 points, its highest close since February 2000. The broader CIBC index was last quoted up 0.72 points at 88.77 points.

VAI FUCHS will install new Electrode Arms at ANSDK
2004 January 29

VAI FUCHS will install new Electrode Arms at ANSDK / Egypt In December 2003, ANSDK in Alexandria, Egypt has awarded VAI FUCHS with the supply of new Current Conducting Electrode Arms. This award confirms the technological leadership of VAI FUCHS in the field of Current Conducting Electrode Arms. VAI FUCHS has supplied more than 260 sets of Current Conducting Electrode Arms so far. Beside more than 200 EAF’s and LF’s directly supplied by VAI FUCHS, all types of furnaces worldwide have also been equipped with electrode arms in VAI FUCHS design independently from the supplier.


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