Egypt Iron and Steel Company

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