Cairo – Mubasher: International Agricultural Products, El Dawlia Fertilizers and Chemicals, and Ebdaa for Project Development will establish a new company with an authorised capital of EGP 500 million and issued capital of EGP 5 million.

The new company, Ebdaa for Chemical Industries, will establish and operate a mono- and di-calcium phosphate plant and manage industrial projects, according to a bourse filing on Tuesday.

International Agricultural Products owns a 59% stake in the new company, while Ebdaa and El Dawlia hold 40% and 1% of the company, respectively.

It is noteworthy to mention that during the first quarter (Q1) of 2022, El Dawlia Fertilizers and Chemicals recorded net profits of EGP 2.98 million, against net losses of EGP 30,460 in the year-ago period.