Cairo - Mubasher: Egyptian Iron and Steel (HADISOLB) has signed a contract with Egyptian Steel Group for selling nearly 230,000 tonnes of scrap iron in accordance with the average prices of global markets.

Upon the deal, Egyptian Steel Group will buy around 700,000 tonnes of scrap iron, in addition to other materials, from HADISOLB, according to a statement by the Ministry of Public Business Sector.

The contract was signed by Ahmed Abou Hashima, the CEO of Egyptian Steel, and HADISOLB’s chairman Abdul Ati Saleh.

Both parties have welcomed further collaboration in other fields over the coming period, the statement highlighted.