Egypt-based Misr National Steel Company (Ataqa) plans to inject new investments in local market and expand in a number of new sectors notably chemicals industries. Ataqa Chairman Gamal El-Garhy told Amwal Al Ghad Monday that this step comes after Solb Misr Group sold its majority stakes in Ataqa for US$1.135 billion. Around 82 percent of Ataqa company stakes are owned by Public Services of Armed Forces while the rest of stakes are owned by Lebanese businessman Rafiq Daou. El-Garhy added that the company is set to conduct necessary studies about the new investments that would be pumped into the market within the coming period. He asserted that investment indicators in the Egyptian market witnessed an improvement following the economic reform decisions made by the government recently notably liberalising exchange rate and reduce fuel subsidies.
