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Egypt Iron and Steel Company [4068d367]

Tags: egypt

  • Discovery of ore deposits in 1954 was the main reason for the Egyptian Iron and Steel companies
  • Expanded capacity in 1970 with discovery of iron ore deposits in Bahairya Oasis in 1970's
  • Currently saddled with debts

    • Meeting only 30% of production targets
    • Moratorium on new hires
  • Formerly strong sense of organized labor, now less so after various rounds of state privitization