Egypt's government not to be Ezz Steel's partner

Egypt's Industrial Development Authority has confirmed that the country's government is not planning to become a partner in Ezz Steel Company and that no proposal would be submitted for that purpose, Youm7 has reported.

The authority proposed a solution to the problem of steel companies' revoked licenses by giving three of the companies, Beshay Steel, Taybah Steel and Garhey Steel, a period of time to repay the value of their licenses in order to keep the companies' investments, employees' interests, and to raise the steel production rate.