According to report, Egypt's biggest steelmaker, Ezz Steel, said it sees its profits to rise in 2014 on new facilities which help to cut production costs. It is expected the new way of production will come with annual capacity of 1.8 million tons per plant and reducing costs by US$50~US$100/ ton by replacing scrap iron with direct-reduced iron (DRI). Ezz currently has 4 plants with total rebar and flat steel capacity of 5.8 million tons. Its net profit was 466.5 million pounds (US$67.6 million). Ezz also has finished the construction of new DRI factory for 80 percent and it will still ask for funding for 3.5 billion pounds.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=64056&division=A6
