-
JLCC
- November 13, 2023
Engineer Khaled El-Feki, President of the General Syndicate for Engineering, Metallurgical and Electrical Industries, and member of the Board of Directors of the Holding Company for Metallurgical Industries, which owns the Egyptian Ferroalloy Company, revealed that the latter is a model in export that all sister public business sector companies affiliated with the holding companies must follow.
He added that ferroalloy factories export everything that can be exported, whether through finished products or manufacturing residues such as silica dust, pointing out that the company’s financial statements revealed that silica dust was exported in an amount of about 14 thousand tons at a value of 116 million pounds in the fiscal year 2022-2023, compared to Exporting quantities amounting to 85 million pounds for the fiscal year 2021-2022.
Local sales of silica dust amounted to 302 million pounds, compared to 106 million pounds for a quantity amounting to about 26.5 thousand tons, which is a great success for the workers and the board of directors of the company, which is an industrial castle in Upper Egypt.
Khaled Al-Feki added that according to the data approved by the company’s general assembly, the total sales of various alloys produced by the company amounted to 49,730 tons with a total value of 2.3 billion pounds during the last fiscal year, compared to a quantity amounting to 58,914 tons with a total value of 2.1 billion pounds, or 84% of the quantity.
Export sales of various alloys amounted to 37,172 tons, with a total value of 1.7 billion pounds, compared to 1.3 billion pounds the previous year.
Local sales of various bullion amounted to 12,558 tons with a total value of 607 million pounds, compared to a quantity of 19,507 tons with a total value of 762 million.
It is worth noting that the company is seeking to convert one of its electric furnaces used to produce ferrosilicon to produce a silico-manganese alloy, which consumes little energy and there is an increasing demand for it. The company’s competitiveness will also increase in the coming period if this is implemented.