Abu Qir Fertilizers and Chemicals Industries Company is to establish a new joint stock company under the name of “North Abu Qir Company for Agricultural Nutrients”, according to a statement to the Egyptian Exchange (EGX).
North Abu Qir Company will be built on the land area owned by the Egyptian General Petroleum Corporation (EGPC).
The capital of the new company amounts to EGP 10 billion, and its issued and paid-up capital is EGP 1 billion.
The company will produce ammonia with a capacity of 1,200 tons per day, nitric acid with a capacity of 1,830 a day, and granular ammonium nitrate with a capacity of 2,400 tons a day.
The new joint stock company’s shareholder structure will be as follows: Abu Qir Fertilizers to hold a 45% stake, Egyptian General Petroleum Corporation to hold a 45% stake, and the Egyptian Petrochemicals Holding Company to hold 10% of the company.
Also read: Gennecs to invest $150m in building a multi-vaccine manufacturing facility in Egypt
If you see something out of place or would like to contribute to this story, check out our Ethics and Policy section.
