ArabFinance: Abu Qir Fertilizers and Chemical Industries (ABUK) is poised to expand by taking executive action to curb carbon dioxide emissions and increase the productivity of Urea plant (Abu Qir 3), Chairman and Managing Director Saad Abu El-Maati said to Al-Mal website.

The company aims to raise the production capacity of Abu Qir 3 plant from 1.900 to 2.300 tons per day of granulated urea, el-Maati added, noting the estimated investment amounts $ 100 million (EGP 1.573 billion).

The company’s ordinary general meeting ratified annual cash dividends of EGP 1.2 per share for the fiscal year (FY) 2019/2020

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. It operates in seven segments, which include Abu Qir plant 1, 2, and 3, mixture fertilizers plant, liquid fertilizers, ammonia and nitric acid, and others.

At the press time, the conversion rate is $1= EGP 15.73

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