The Minister of Public Business Sector Hisham Tawfiq revealed the developments of the Iron and Steel Company, pointing out that the reason for the gain and loss between the iron and steel factories in the public and private sectors is technology, pointing out that 10 billion pounds is the size of the debts of the Iron and Steel Factory in Helwan.
Tawfiq indicated, during a phone call with the “Al-Masry Effendi” program, presented by journalist Mohamed Ali Khair, broadcast on “Al Mehwar” channel, that they will reassess the Iron and Steel Company after changing its activities from industrial to residential, explaining that the company’s workers will not receive compensation. Before liquidation, they take steps to liquidate until proven otherwise.
He revealed the goal of establishing the largest spinning and weaving factory in Mahalla, stressing that its goal is to return the long cotton industry to its previous era, pointing out that they aim to start operating the largest spinning and weaving factory in mid-2022.
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