Cairo – Mubasher: Egyptian Financial and Industrial (EFIC) on Thursday said it had completed the feasibility study of the potassium sulfate production line project with EGP 300 million in investments.

The agricultural chemicals producer also plans to buy five production units for the project at a cost of EGP 60 million each in 2018 and 2019, EFIC highlighted in a filing to the Egyptian Exchange (EGX).

The EGX-listed firm also aims to buy and install the first two units out of five with EGP 120 million in investments in the third quarter of 2018, the company added.

The project will generate revenues equal to overall investment value within four years and will create around 200 jobs, according to the feasibility study.

EFIC’s capital amounts to EGP 727.67 million distributed over 72.77 million shares at a par value of EGP 10 per share.