The agreement aims to launch a cooperation between the Alupco Group and Octa International to establish a factory for forming and manufacturing aluminum products and applications for the construction sectors and other high-quality products.
The report pointed out that Italy topped the list of importers of Egyptian aluminum, followed by Spain, Germany, the US and Morocco
The minister said that these two decisions came as a result of the significant rise in the global economy from high inflation rates and energy prices, as well as the rise in the prices of materials and production requirements, which negatively affects the Egyptian productive and export sectors.
The company added, in a filing to the Egyptian Exchange (EGX), Wednesday, that the decision came as a result of serious damage from the increase in imports to the local industry, and the implementation of the decision will start in mid-April.
The decision is effective for a period of three years, starting from mid-April, at a rate of 16.5 percent of the CIF value, with a minimum of $ 333 per ton for the first year.
Egypt's exports of copper and its derivatives went down during the first half of 2020 by about 25 percent to reach $33 million.
The ETRR-2 experimental training research reactor in Sharqiya governorate was supplied by the Argentine company INVAP for construction and delivery of plants and equipment in 1992.
The partnerships involve German and Slovak companies.
The U.S. Treasury said it will lift sanctions on the core empire of Russian businessman Oleg Deripaska, including aluminum giant Rusal and its parent En+.
The final aluminum sheet duties, however, were reduced from those first imposed in April and July. The initial combined range was 198.4 percent to 280.46 percent.
US President Donald Trump said Friday he had doubled steel and aluminum tariffs on Turkey.
The European Commission has proposed a combination of a quota and a tariff to counter EU concerns that steel products no longer imported into the United States would instead flood European markets.
The U.S. Commerce Department has determined that Chinese common alloy aluminum sheet products are being sold in the U.S. market at less than fair value.
Canada and Mexico retaliated against the United State's decision on Thursday to impose tariffs on steel and aluminum imports.
The Trump administration is considering a proposal to impose new tariffs on imported vehicles, invoking a national security law used to impose tariffs on aluminum and steel.
U.S. stock edged up and Australian shares hit seven-week highs on Tuesday after the U.S. postponed the imposition of steel tariffs.
The sources told the media delegation accompanying the Door Knock mission in Washington that Egypt seeks to be among the exempted countries.
After pressure from allies, the United States has opened the way for more exemptions from tariffs of 25 percent on steel imports and 10 percent on aluminum.
The owner of a shuttered aluminum smelter in southeastern Missouri said on Friday the firm would restart two of the plant’s three production lines.
Key US trading partners condemned Trump's decision to slap punitive tariffs on foreign steel and aluminium as "protectionism" and an affront to allies.