{"id":563193,"date":"2021-06-22T03:50:32","date_gmt":"2021-06-22T03:50:32","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/22\/private-sector-could-bid-for-some-of-egyptian-iron-and-steels-land-bank\/"},"modified":"2021-06-22T03:50:32","modified_gmt":"2021-06-22T03:50:32","slug":"private-sector-could-bid-for-some-of-egyptian-iron-and-steels-land-bank","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/22\/private-sector-could-bid-for-some-of-egyptian-iron-and-steels-land-bank\/","title":{"rendered":"Private sector could bid for some of Egyptian Iron and Steel\u2019s land bank"},"content":{"rendered":"

<\/a> Private sector companies will have the chance to bid for some of Egyptian <\/strong>Iron and Steel\u2019s land bank<\/strong> as the government continues the process of liquidating the state-owned company, Deputy Housing Minister Khaled Abbas tells Al Mal<\/a>. The New Urban Communities Authority has been put in charge of preparing the sale, a process which is expected to take 2-3 months, he said.<\/p>\n

How much land is potentially up for grabs?<\/strong> Egyptian Iron and Steel owns 6 mn sqm of land<\/a>. We\u2019ll likely find out how much of this will be auctioned off to private sector firms after NUCA has finished doing its thing later in 3Q.<\/p>\n

This comes as part of Iron and Steel\u2019s ongoing liquidation <\/strong>\u2014 a process expected to take up to two years that will see the perennial lossmaker sell its land assets<\/a> to pay off EGP 9 bn in debts. Egyptian Iron and Steel officially halted its operations in late May until a compensation agreement<\/a> is reached with employees.<\/p>\n

The process has so far given us the newest entrant to the EGX: <\/strong>Iron and Steel\u2019s mining operations have been spun off to form a new company, Iron and Steel for Mines and Quarries, whose c.978 mn shares began trading on the EGX<\/a> at the end of May.<\/p>\n","protected":false},"excerpt":{"rendered":"

Private sector companies will have the chance to bid for some of Egyptian Iron and Steel\u2019s land bank as the government continues the process of liquidating the state-owned company, Deputy Housing Minister Khaled Abbas tells Al Mal. The New Urban Communities Authority has been put in charge of preparing the sale, a process which is […]<\/p>\n","protected":false},"author":1,"featured_media":563194,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7321],"tags":[1961,72,879,81,587],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-563193","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-privatization-watch","tag-egyptian-iron-and-steel","tag-enterpriseam","tag-new-urban-communities-authority","tag-privatization-watch","tag-state-privatization-program","wpautop","entry"],"acf":{"mongo_id":"533548f4-1916-452d-b0a6-82bc10827eca","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/6\/280.jpg","photo_position":"above","related_issue":[563186],"teaser":"","voice_url":""},"yoast_head":"\nPrivate sector could bid for some of Egyptian Iron and Steel\u2019s land bank - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/22\/private-sector-could-bid-for-some-of-egyptian-iron-and-steels-land-bank\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Private sector could bid for some of Egyptian Iron and Steel\u2019s land bank\" \/>\n<meta property=\"og:description\" content=\"Private sector companies will have the chance to bid for some of Egyptian Iron and Steel\u2019s land bank as the government continues the process of liquidating the state-owned company, Deputy Housing Minister Khaled Abbas tells Al Mal. 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Egyptian Iron and Steel\u2019s five-working-day\u2026","rel":"","context":"In "SPEED ROUND: CAPITAL MARKETS"","block_context":{"text":"SPEED ROUND: CAPITAL MARKETS","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-capital-markets\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":559249,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/01\/14\/egyptian-iron-and-steels-new-mining-company-to-begin-trading-on-egx-in-2-months\/","url_meta":{"origin":563193,"position":1},"title":"Egyptian Iron and Steel\u2019s new mining company to begin trading on EGX in 2 months","author":"enterpriseam admin","date":"14 January 2021","format":false,"excerpt":"State-owned Egyptian Iron and Steel is being liquidated in a process that will take up to two years, the company said in a disclosure (pdf) yesterday. The perennial lossmaker will have to sell off 6 mn sqm of its land assets to be able to pay off its EGP 9\u2026","rel":"","context":"In "DEMERGER WATCH"","block_context":{"text":"DEMERGER WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/demerger-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":566578,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/28\/a-last-ditch-effort-to-save-egyptian-iron-and-steel\/","url_meta":{"origin":563193,"position":2},"title":"A last-ditch effort to save Egyptian Iron and Steel?","author":"enterpriseam admin","date":"28 June 2021","format":false,"excerpt":"Ukraine\u2019s Vazhmash is serious about saving Egyptian Iron and Steel: Ukraine-based industrial player Vazhmash has fielded a \u201cserious\u201d offer to step in and revive defunct state-owned Egyptian Iron and Steel, Khaled El Feky \u2014 a board member at Egyptian Iron and Steel parent company the Metallurgical Industries Holding Company (MIHC)\u2026","rel":"","context":"In "SPEED ROUND: PUBLIC ENTERPRISES"","block_context":{"text":"SPEED ROUND: PUBLIC ENTERPRISES","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-public-enterprises\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/6\/603.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":562399,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/05\/23\/egyptian-iron-steel-mining-spinoff-inches-closer-to-listing\/","url_meta":{"origin":563193,"position":3},"title":"Egyptian Iron + Steel mining spinoff inches closer to listing","author":"enterpriseam admin","date":"23 May 2021","format":false,"excerpt":"The listing of Egyptian Iron and Steel\u2019s mining spinoff edged closer last week after the Financial Regulatory Authority (FRA) gave the all-clear for the company\u2019s registration and trading on the EGX, the regulator said in a bourse filing (pdf). The EGX is yet to announce a date for when the\u2026","rel":"","context":"In "Also on our Radar"","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":566125,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/05\/30\/iron-and-steel-mining-spinoff-begins-trading-on-the-egx\/","url_meta":{"origin":563193,"position":4},"title":"Iron and Steel mining spinoff begins trading on the EGX","author":"enterpriseam admin","date":"30 May 2021","format":false,"excerpt":"Shares of state-owned Egyptian Iron and Steel\u2019s mining spinoff started trading this morning, the exchange said. The spinout, inventively named Iron and Steel Mines and Quarries, listed c. 978 mn shares after it received the all-clear from the EGX\u2019s securities registration committee last week. Its shares are now trading separately\u2026","rel":"","context":"In "SPEED ROUND: CAPITAL MARKETS"","block_context":{"text":"SPEED ROUND: CAPITAL MARKETS","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-capital-markets\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":554204,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/12\/23\/get-your-liquidation-payout\/","url_meta":{"origin":563193,"position":5},"title":"Get your liquidation payout","author":"enterpriseam admin","date":"23 December 2021","format":false,"excerpt":"Egyptian Iron and Steel workers could soon be compensated after approval of an EGP 1.3 bn loan: The Metallurgical Industries Holding Company (MIHC), the parent company of Egyptian Iron and Steel, has the green light to obtain up to EGP 1.3 bn in financing from local banks to compensate former\u2026","rel":"","context":"In "LEGISLATION WATCH"","block_context":{"text":"LEGISLATION WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/legislation-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/12\/472.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/563193","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=563193"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/563193\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/563186"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/563194"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=563193"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=563193"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=563193"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=563193"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=563193"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}