The Egyptian Minister of Public Enterprise Sector, Hisham Tawfiq stated that the US firm, Bechtel Corporation, one of the most respected engineering, construction, and project management companies in the world has concluded the engineering study for the expansion project of Egypt’s largest aluminium smelter Egyptalum.
Bechtel study will be presented to Egyptian President Abdel Fattah Al-Sisi soon for workable approval of the two-phase plan to add 500,000 tonnes per year to the production of the state-owned Aluminium Company.
The Minister said: “The development plan for Egyptalum and Bechtel feasibility study will soon be presented to the President for a final decision.”
“The plan also includes the construction of a car wheel plant to face rising domestic demand and export any surplus,” he added.
Tawfiq said: “Egyptalum, one of the largest smelters in Africa, had made large profits before it suffered losses due to the decline in global aluminium prices in 2019-2020, adding that it reverted to profits following the recovery of prices.”
Egypt’s largest aluminium smelter has reported losses of about 994 million Egyptian pounds in FY2019-20 compared to a profit of 571 million pounds in the previous fiscal year.
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