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Suez Canal signed MoU with Danieli

Author : rotary joint Date : 2017/8/21 16:41:05
 Chairman of the Suez Canal Authority, Mr. Mahab Mameish, signed a Memorandum of Understanding (MoU) with Gianpietro BENEDETTI,
a member of the Board of Directors and Managing Director of DANIELI, to establish an iron and steel plant at Al Ain Sokhna in the Economic Zone,
In favor of the Suez Canal Company for Iron and Steel under construction with a production capacity of one million and 200 thousand tons of reinforcing
steel lengths and coils, in the presence of Eng. Jamal Khaled, Director of Corporate Management, in the extension building in Ismai The memorandum
of understanding includes DANILY building the plant by turnkey system. According to the memorandum of understanding, the Italian company is committed
to the establishment of the plant in two stages. The first phase includes the construction of a rolling line - the re-formation of the raw iron for a finished product -
with production capacity of 600 thousand tons after 19 months from the start of the plant. The second stage includes the construction of the smelting plant,
The second rolling mill after 7 months of implementation of the first phase.

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