01 November 2011
Dubai: Delta Fertilizers and Chemicals Industries (ASMEDA), the Egyptian state-owned company, is expected to sign a USD 600 million contract next week, to upgrade its plant in Talkha City, north of Cairo, a high level source told Zawya.
The company is studying bids from four international companies: Italy-based Tecnimont and Saipem, Germany-based ThyssenKrupp Uhde and Korea's Samsung Fine Chemical.
Dubai: Delta Fertilizers and Chemicals Industries (ASMEDA), the Egyptian state-owned company, is expected to sign a USD 600 million contract next week, to upgrade its plant in Talkha City, north of Cairo, a high level source told Zawya.
The company is studying bids from four international companies: Italy-based Tecnimont and Saipem, Germany-based ThyssenKrupp Uhde and Korea's Samsung Fine Chemical.
State-owned companies in Egypt, especially those in the chemicals and fertilizers industry, are leading the charge in investing large amounts for expansion and upgrades of manufacturing facilities. On October 30, the Egyptian Chemical Industries Company (KIMA) signed a USD 560 million contract with Tecnimont to upgrade its urea plant.
According to the source, ASMEDA is currently in the process of evaluating the bids and will "likely sign the contract next week".
ASMEDA produces chemical fertilizers. It has a paid-up capital of EGP 130 million (USD 21.77 million), according to its website.
© Zawya 2011
