Abu Qir Fertilizers appoints financial advisor for methanol project
The financial advisor will be responsible for arranging the required financing for the methanol and ammonia project
The plant of Egyptian Fertilizers Company (EFC) is seen at the desert road of Suez city north of Cairo, Egypt August 14, 2016. Image used for illustrative purpose.
REUTERS/Amr Abdallah Dalsh
By Staff Writer, Arab Finance
ArabFinance: The board of directors of Abu Qir Fertilizers and Chemicals Industries Company (ABUK) approved to appoint Al Ahly Capital Holding as the financial advisor for the International Company for Methanol and Derivatives (under establishment), the company revealed in a statement.
The financial advisor will be responsible for arranging the required financing for the methanol and ammonia project set to be built in the Suez Canal Economic Zone (SCZone), according to the statement.
It is worth noting that Abu Qir Fertilizers reported an 87.84% year-on-year growth in net profit after tax for the first quarter (Q1) of fiscal year (FY) 2021/2022, recording EGP 1.289, compared to a profit of EGP 686.55 million in Q1 FY 2020/2021.
Abu Qir Fertilizers is an Egypt-based company engaged in the agricultural chemicals sector. The company focuses on the production, distribution, and export of fertilizers, chemicals, and related products.
Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.
Get Zawya's daily newsletter for insightful and exclusive Middle East perspectives on business and finance. SUBSCRIBE NOW