Japanese engineering company Mitsubishi Heavy Industries, Ltd. eyes developing Egypt's iron and steel complex in Helwan, Egyptian Trade and Industry Minister Tarek Qabil stated Tuesday. The Japanese multinational electrical equipment and electronics company plans to develop the complex through upgrading existent factories, using latest technologies, besides conducting feasibility study for iron ore mines in Aswan and New Valley governorates, the minister said. Qabil made these remarks during his meeting with a delegation of the firm in which Mitsubishi discussed its current and the set-to-be-established projects. During the meeting, Qabil agreed with Mitsubishi on submitting an offer for the Egyptian government including the cost and company's work plan by the end of June 2016 to study it and make the suitable decision to develop the complex. Minister Qabil noted that trade ministry cares to develop iron and steel industry since it is one of the strategic industries necessary for executing massive number of large national projects.
