CIHC, Global Steel to establish joint stock company for PC wires production

Updated 6/25/2023 8:53:00 AM
CIHC, Global Steel to establish joint stock company for PC wires production

Arab Finance: Chemical Industries Holding Company (CIHC) and Egypt’s Global Steel Company inked a shareholders’ agreement to set up an Egyptian joint stock firm named EgyDrew to establish, manage, and operate a factory for the production of prestressed concrete (PC) wires, according to a cabinet statement on June 22nd.

The purpose of the yet-to-be established joint stock company is to set up, manage, and operate a factory for the production of PC wires.

PC wires are used in the manufacture of railway flanges, electrical poles, precast architectural structures, and drainage pipes.

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