Lack of Feasibility Behind Iron and Steel Mining Firm’s Scrapped Ukrainian Deal

An agreement between Egypt’s Iron and Steel for Mines and Quarries and a Ukrainian company was cancelled over the project’s lack of feasibility.

The cancellation came into focus alongside the Egyptian company’s response to an auditor’s report on its amended financial statements dated June 30, 2026.

The response also revealed several observations concerning land held by the company. The available information does not specify the properties involved or the nature of the auditor’s concerns.

No details were provided on the Ukrainian partner’s identity, the agreement’s value or the assessment that led to its cancellation. It was also unclear whether the land-related observations were connected to the abandoned project.