Arab Finance: President Abdel Fattah El-Sisi has inaugurated a nitrogen fertilizer complex in Al-Ain Al-Sokhna, Egyptian Presidency announced on March 15th.

The ceremony is attended by Prime Minister Moustafa Madbouly, Minister of Agriculture and Land Reclamation, Al-Sayed El-Quseir, Minister of Defense and Military Production, Mohamed Zaki, Petroleum and Mineral Resources Minister Tarek El-Molla, as well as a number of ministers and senior statesmen.

The new complex includes six mega factories to produce nitrogenous fertilizers.

The complex is implemented by German industrial engineering and steel production multinational conglomerate ThyssenKrupp AG, in partnership with Egypt’s Petrojet.

The factories will have a production capacity of up to 1.7 million tons annually of phosphate, potassium and nitrogen fertilizers, to serve the agricultural sector in Egypt. The surplus in production will be exported to nearly 56 countries.

During the ceremony, El-Quseir revealed that total finance provided to Egyptian farmers during the previous three years amounted to more than EGP 75 billion.

El-Quseir, during his speech, confirmed that the ministry will spare no effort to provide small farmers with subsidized fertilizers to mitigate the impact of the successive global crises and high prices.

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