27 October 2011
Egyptian Chemical Industries Company (KIMA), the Egyptian listed company, will sign a USD 560 million contract on Sunday, 30 October 2011, with the Italy-based Tecnimont S.p.A., Yahya Mashali, the Chairman of KIMA, told Zawya.
KIMA, the majority state-owned company, will develop its plant for urea using natural gas instead of electricity, the plant will double its production to 1,200 tons daily, which includes nitrogen fertilizer (900 tons) and ammonium nitrate fertilizer (300 tons), according to the chairman.
He added that KIMA will sign the contract in Semiramis Hotel in Cairo in the presence of the Egyptian Minister of Industry.
The planet covers an area of 350,000 square acres and will give the Italian company ample opportunities to start serious production lines along with the development of the old lines.
KIMA has a paid-in capital of EGP 1.2 billion (USD 201 million) according to Mashali. It produces fertilizers, ammonium nitrate, ferrosilicon and ice, packaging oxygen and silica dust, according to its website.
© Zawya 2011
Egyptian Chemical Industries Company (KIMA), the Egyptian listed company, will sign a USD 560 million contract on Sunday, 30 October 2011, with the Italy-based Tecnimont S.p.A., Yahya Mashali, the Chairman of KIMA, told Zawya.
KIMA, the majority state-owned company, will develop its plant for urea using natural gas instead of electricity, the plant will double its production to 1,200 tons daily, which includes nitrogen fertilizer (900 tons) and ammonium nitrate fertilizer (300 tons), according to the chairman.
He added that KIMA will sign the contract in Semiramis Hotel in Cairo in the presence of the Egyptian Minister of Industry.
The planet covers an area of 350,000 square acres and will give the Italian company ample opportunities to start serious production lines along with the development of the old lines.
KIMA has a paid-in capital of EGP 1.2 billion (USD 201 million) according to Mashali. It produces fertilizers, ammonium nitrate, ferrosilicon and ice, packaging oxygen and silica dust, according to its website.
© Zawya 2011
