Egyptian Steel, Danieli Sign Plant Supply Contract, MENA Says

Egyptian Steel and Danieli SpA (DANR) signed an agreement worth 210 million Egyptian pounds ($34.5 million) to supply production lines to National Port Said Steel Co. for a new plant, the state-run Middle East News Agency reported.

The project will begin in three months and the plant, which will provide 20,000 jobs, is due to start producing steel bars in 17 months, MENA said.

To contact the reporter on this story: Nadine Marroushi in Cairo at nmarroushi@bloomberg.net

To contact the editor responsible for this story: Shaji Mathew at shajimathew@bloomberg.net

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