Egyptian Steel
Egyptian Steel is a manufacturer of steel and steel products that was founded in 2010 and is headquartered in Cairo, Egypt. The company was co-founded by Ahmed Abou Hashima and Qatari investor Shiekh Mohamed Abou Suhaim Al Thani. Ahmed Abou Hashima is the company's CEO. Egyptian Steel is the holding company for NPSS (National Port Said Steel), IIC (Industrial Investment Company) and Egyptian Steel for Building Materials Trading..
Production
The company manufactures steel and steel products such as rebar, wire rods and billets.
As of October 2013, Egyptian Steel produced approximately 300,000 tons of steel annually at its Port Said plant.
Business
In September 2012, Egyptian Steel and Danieli SpA signed a $210 million (Egyptian pound), (USD $34.5 million) agreement for Danieli SpA to provide production lines for Egyptians Steel’s plant in Ain el-Soukhna. The agreement also provide production lines for National Port Said Steel Co. It was estimated that the agreement would create 20,000 new jobs.
In March 2012, Egyptian Steel and Danieli SpA entered into an agreement to build "the largest industrial complex in the Middle East and North Africa region for the production of re-bars and billet" in Beni Suef. The Beni Suef location, along with another new location in Ain Sukhna, are estimated to begin production sometime in early 2015.
Planned IPO
Egyptian Steel plans on offering an initial public offering for the public to purchase company shares sometime in 2015.