Compared to other newly industrialized countries, Egypt's iron and steel and nonferrous metals industry is well-developed. The oldest two manufacturers are the National Metal Industries located at Abu Zaabal and Delta Steel at Mostorod, both established by the private sector in the 1940s. A third minimill, the Egyptian Copper Works has also developed since 1952 to provide the industry with a diverse range of iron and steel products from its 120 thousands ton plant capacity. The largest integrated steel mill was founded in 1954 - the Egyptian Iron and Steel Corporation - as a joint stock company with majority equity from the state. Located in Hulwan, the company has a work force of 22,770 and its capital employed reached L.E. 1.7 billion in 1995.