Wednesday, Jun 01, 2011
BEIRUT (Zawya Dow Jones)--Egypt Kuwait Holding Co., or EK Holding, plans to inject $35 million to partly fund a phosphate fertilizer project that will be implemented in Egypt by its unit The National Co. for Fertilizers at a total cost of 1.2 billion Egyptian pounds ($201.5 million), Kuwait-based Al Rai daily reports Wednesday.
Work at the project's first phase will begin next month and the plant is expected to start production in early 2014, the paper reports citing Sahar Farahat, EK Holding's executive vice president and chief financial officer.
EK Holding's direct and indirect stake in the project is 58% and the plant's annual production capacity will be 1.5 million tons of various fertilizers, she said according to the daily.
Newspaper website: http://www.alraimedia.com/Alrai/Article.aspx?id=278920&date=01062011
-By Beirut Bureau, Zawya Dow Jones; +961-1-985 757; BeirutZDJ@zawya.com
Copyright (c) 2011 Dow Jones & Co.
(END) Dow Jones Newswires
01-06-11 0530GMT
