Russia to refurbish iron, steel factories

Egypt's Minister of Industry and Technological Development, Ali Al- Saeedi, said that the private sector has to play the lead in development and progress process. The Egyptian government pins great hopes on the private sector to help upgrade international cooperation ties.

Ali Al-Saeedi was speaking during a meeting with Chairman of Russian Chambers of Commerce Federation, Yevgeny Primakov.

The meeting was attended by Chairman of the Federation of Egyptian Chambers of Commerce (FEDCOC), Khalid Abu Ismail and a number of Russian businessmen.

The two sides have agreed to refurbish a number of projects established by Russia in 1960s on top of which are the iron and steel factors in Helwan.