ArabFinance: Ferchem Masr for Fertilizers and Chemicals (FERC) stated Abu Zaabal Company rented 5,000 square meters from the former land plot located in Monufia governorate, according to the company's July 15th statement filed to the Egyptian Exchange.
Abu Zaabal rented the land in order to establish an industrial project to manufacture fertilizer.
Ferchem Masr posted a net profit of EGP 5,060,504 in Quarter one (Q1) of 2020, a 40% increase from EGP 3,602,911 achieved in Q1 2019.
Ferchem Masr was founded in 2001 as a leading joint-stock company specialized in blended fertilizer industry Phosphate and soluble fertilizers were added to help support the fertilizers industry and agriculture in Egypt.
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