Cairo - Mubasher: The board of Abu Qir Fertilizers and Chemical Industries Company agreed to implement a coated urea project with a production capacity of 400 tons per day.

The development is estimated at roughly $5.60 million in investment cost and is expected to be completed within 12 months, according to a bourse filing.

Meanwhile, the project aims to expand high-efficiency fertilizer production for both local and export markets.

The initiative is part of the company’s strategic plan to maximize product value, reduce its carbon footprint, and enhance competitiveness and profitability.

During the first half (H1) of fiscal year (FY) 2025/2026, the net profits after tax of Abu Qir Fertilizers increased by 15% year-on-year (YoY) to EGP 5.10 billion from EGP 4.45 billion.