Will re-pricing natural gas cast positive shadow over Egypt's industry?

The Egyptian Cabinet announced Oct. 3 its approval of the recommendations of the ministerial committee regarding re-pricing natural gas used in some metal industries and building materials — a move that has drawn mixed reactions over the tangible impact of the new prices on the country's industrial sector.

According to the Cabinet's decision, gas prices for the cement industry fell to $6 per million British thermal units (Btu) instead of $8. The price of gas used in the iron, steel, aluminum, copper, ceramic and porcelain industries also fell to $5.5 per million Btu instead of $7.