Cairo – Mubasher: Misr Chemical Industries is planning to invest EGP 203 million in fiscal year 2021/2022, including EGP 103 million in local investments and EGP 100 million in foreign investments, according to a bourse disclosure on Wednesday.

The company received the Egyptian Environmental Affairs Agency’s (EEAA) approval to finance the industrial wastewater unit development and expansion project as well as the evaporator unit replacement and identification project at a value of EGP 150 million, of which 20% are funded by a grant as part of a pollution control project.

Tenders related to the projects are currency being finalised.

During the first half (H1) of FY20/21, the company posted net profits of EGP 82.26 million, up from EGP 14.34 million in the year-ago period.