TMG to launch post-AI project and begin Noor city deliveries in 2026    Gold prices in Egypt end 2025's final session lower    From Niche to National Asset: Inside the Egyptian Golf Federation's Institutional Rebirth    Egyptian pound edges lower against dollar in Wednesday's early trade    Oil to end 2025 with sharp losses    Egypt completes 90% of first-phase gas connections for 'Decent Life' initiative    5th-century BC industrial hub, Roman burials discovered in Egypt's West Delta    Saudi Arabia demands UAE withdrawal from Yemen after air strike on 'unauthorised' arms    Egyptian-Italian team uncovers ancient workshops, Roman cemetery in Western Nile Delta    Egypt to cover private healthcare costs under universal insurance scheme, says PM at New Giza University Hospital opening    Qatari Diar pays Egypt $3.5bn initial installment for $29.7bn Alam El Roum investment deal    Egypt to launch 2026-2030 national strategy for 11m people with disabilities    Kremlin demands Ukraine's total withdrawal from Donbas before any ceasefire    The apprentice's ascent: JD Vance's five-point blueprint for 2028    Health Ministry, Veterinarians' Syndicate discuss training, law amendments, veterinary drugs    Egypt completes restoration of 43 historical agreements, 13 maps for Foreign Ministry archive    Egypt, Viatris sign MoU to expand presidential mental health initiative    Egypt sends medical convoy, supplies to Sudan to support healthcare sector    Egypt's PM reviews rollout of second phase of universal health insurance scheme    Egypt sends 15th urgent aid convoy to Gaza in cooperation with Catholic Relief Services    Al-Sisi: Egypt seeks binding Nile agreement with Ethiopia    Egyptian-built dam in Tanzania is model for Nile cooperation, says Foreign Minister    Al-Sisi affirms support for Sudan's sovereignty and calls for accountability over conflict crimes    Egypt flags red lines, urges Sudan unity, civilian protection    Egypt unveils restored colossal statues of King Amenhotep III at Luxor mortuary temple    Egyptian Golf Federation appoints Stuart Clayton as technical director    4th Egyptian Women Summit kicks off with focus on STEM, AI    UNESCO adds Egyptian Koshari to intangible cultural heritage list    Egypt recovers two ancient artefacts from Belgium    Egypt, Saudi nuclear authorities sign MoU to boost cooperation on nuclear safety    Egypt warns of erratic Ethiopian dam operations after sharp swings in Blue Nile flows    Egypt golf team reclaims Arab standing with silver; Omar Hisham Talaat congratulates team    Sisi expands national support fund to include diplomats who died on duty    Egypt's PM reviews efforts to remove Nile River encroachments    Egypt resolves dispute between top African sports bodies ahead of 2027 African Games    Germany among EU's priciest labour markets – official data    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Egyptian Iron and Steel Company problems to be solved soon: chairman
The chairman of the Egyptian Iron and Steel Company tells Ahram Online negotiations are under way to solve liquidity problems; expects company performance to improve
Marwa Hussein Published in Ahram Online on 04 - 12 - 2013

In reaction to accusations of corruption and negligence within the Egyptian Iron and Steel Company (HADISOLB), Mohamed Saad Negeada, chairman and managing director, has defended his record in interview with Ahram Online.
“Any corruption allegation within the company is investigated. Anyone who has information concerning corruption cases I do not know about can report it to the prosecutor general,” said Negeada.
Negeada said that the deterioration in the performance of the company over recent years, marked by declining production, was not the fault of the company's administration but a consequence of a shortage in coke needed to operate blast furnaces.
According to Negeada, the shortage is due to a decrease in production of the Coke Company — once affiliated to HADISOLB, for technical reasons.
“The coke produced by the Coke Company is made specially to meet the requirements of the Egyptian Iron and Steel Company. We have launched many tenders to buy coke from other suppliers, but the specifications were not the same,” he added.
Negeada said the production of the Coke Company increased by 10 per cent during recent days, allowing the company to fulfill up to 50 per cent of HADISOLB's needs.
“It will increase gradually as maintenance work is in progress in the Coke Company."
For the last two years, only one blast furnace out of four has been operating at the HADISOLB factory, resulting in a substantial decrease in production and profits.
Thousands of workers at HADISOLB in Helwan, south of Cairo, are on strike since Monday while the company's syndicate has been staging a sit-in at the headquarters of the Egyptian Trade Union Federation since four days.
Workers, who have been holding sit-ins since 26 November, decided to escalate their action after the Metallurgical Industries Company, HADISOLB's holding company, failed to respond to their demands to make good on delayed profit shares.
Official sources have indicated that negotiations involving several parties, including the Metallurgical Industries Company, the Ministry of Investment, the Ministry of Finance and the Ministry of Manpower, are ongoing to find a solution to liquidity problems.
Saad El-Shelehi, member of HADISOLB's union, told Ahram Online that workers are expecting a visit by Minister of Manpower Kamal Abu-Eita Wednesday night.
http://english.ahram.org.eg/News/88290.aspx

Clic here to read the story from its source.