By: Fahd Omran
Cairo – Mubasher: Chemical Industries Holding Co will start producing fertilisers from three of its projects this year, its chairman has said.
One of these projects includes the development of the KIMA complex in the Upper Egypt governorate of Aswan, while it will be gas-operated with up to EGP 11 billion in investments, Emad El-Din Mostafa added on the sidelines of the opening of the 25th forum of the Arab Fertilizer Association in Cairo, noting that this complex would produce around 500,000 tonnes a year of ammonia
Mostafa highlighted that the KIMA 2 facility was under construction at the KIMA complex at a cost of EUR 235 million (EGP 4.68 billion), indicating that the investment was financed by a banking consortium comprised of the National Bank of Egypt (NBE), Banque Misr, Banque du Caire, and the Arab African International Bank (AAIB).
Italy's Maire Tecnimont will be implementing the facility, which will produce ammonia operated by natural gas instead of electricity, the top official went on, explaining that through its new facility, Chemical Industries was targeting a raise in its ammonia production to 1,200 tonnes per day from 300 tonnes a day currently.
Moreover, Mostafa indicated that El Nasr Intermediate Chemicals Co was looking to implement the largest phosphate-based fertiliser project in Ain Sokhna with $2 billion (EGP 35.17 billion) in capital and seven production units.
He further noted that Egypt’s production of nitrogen fertilisers amounts to 12 million tonnes a year. Half of the production gets locally consumed, while the remainder is exported to around 20 Arab and foreign countries, Mostafa said.
In 2018, Egypt’s gas discoveries boosted fertiliser production by 60%, Chemical Industries' chairman added, forecasting that the Egyptian fertilisers industry would witness a leap in 2019.
Translated by: Mai Ezz El-Din