Cairo - Mubasher: Egyptian Iron and Steel (HADISOLB) announced that it prepares to import 50,000 tons of coal for $10 million.

The 50,000 tons of coal will be self-financed from the company's revenues, said a bourse statement.

Meanwhile, the company said it recently received 27,000 tons of coal as a part of a shipment it agreed on it earlier and it expects to receive the remaining amounts after one month.

HADISOLB suffered EGP 557.5 million in losses in the nine-month period ended 31 March 2015, compared with EGP 666.1 million for the previous year.

The Egyptian listed steel producer is capitalised at EGP 976.8 million, distributed across 488.4 million shares at EGP 2 par value each.