Arab Finance: The board of directors of Egyptian Chemical Industries (KIMA) (EGCH) has approved renewing the contract signed with the Italian engineering company Maire Tecnimont regarding the operation and maintenance of the ammonia and urea plant for two years as of June 25th, according to a statement filed to the Egyptian Exchange (EGX) on July 19th.
Moreover, the board has decided to renew the insurance policy for the plant with Misr Insurance Company for two years starting June 26th 2022 until June 26th 2024.
The board has also agreed to renew the contract signed with Schneider Electric for the machines’ maintenance at the ammonia and urea plant for two years as of July 1st.
KIMA is an Egypt-based nitrogen-based fertilizers manufacturing leader and is engaged in the agricultural chemicals industry.
The company produces and distributes various products, including urea, ammonium nitrate, ferrosilicon alloy, liquid ammonium nitrate fertilizer, prill ammonium nitrate fertilizer, liquid ammonia, aqua-ammonia, nitric acid, hydrochloric acid, and silica fume.