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Egypt steel tycoon Mr Ahmed Ezz to run for parliament

Al Arabiya reported that Egypt's steel tycoon Mr Ahmed Ezz, who was recently freed from jail over corruption charges following the January 25th 2011 uprising, announced late Saturday that he will run for the upcoming parliamentary elections.

Mr Ezz said that “Despite all the warning I received, I still want to share with the Egyptians their development dream.”

Mr Ezz, the former owner of Ezz Steel Egypt's largest steel manufacturer - was jailed within days after a popular uprising that ousted autocrat Hosni Mubarak in February 2011.

On March 2013, Mr Ezz was sentenced to 37 years in jail but he appealed the verdict. His case was later dropped and he was released after paying USD 13.9 million. He was initially charged with embezzling more than six billion Egyptian pounds.

The Mubarak era figure said that his platform would be based upon the economy, and his real and first battle was basically in manufacturing and development. Strong economic legislation can make this nation move forward with confidence.

Mr Ezz was a magnate under Mubarak's regime and was widely believed to have engineered widespread fraud during the 2010 parliamentary elections, securing an unprecedented majority for the National Democratic Party of Egypt in the chamber.