Bolt, Steel, and Aluminum Industries in Egypt Seek Export Subsidies

Egyptian media has quoted from Mohamed Sayyed Hanafi, Director General of the Metallic Industries Chamber, saying the bolt industry, the steel structures industry and the aluminum industry, which are members of the Chamber, have recorded reasonable exports performance and are calling for some export subsidies. 

Hanafi indicated that in recent years these three industries have penetrated into the European and African markets successfully. In 2010 the gross export value of the 9 Egyptian bolt factories was L.E.100 million, the gross export value of the 4 steel structures factories was L.E.300 million and the gross export value of the 8 aluminum factories was L.E.280 million.

All 21 factories have their local raw materials base and domestic market support, which translates into huge backup potential for those factories to orchestrate their export pricing policies and to benefit from the break - even point analysis. Serious observers inquire about a possible support to those industries to be extended by the Egyptian Aluminum Co., by HADISOLB and other Egyptian private steel companies.