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Country-Plan Projects and Tenders |
| 9558 Subject |
190 مليون دولار رأس مال شركة جديدة لإنشاء مصنع للسماد في العين السخنة A new mega company under establishment capitalized at $ 190 million to produce ammonia & urea in Ein Al Sukhna. |
| Date Published | Thursday, October 27, 2005 |
| Source Name | Al Alam Al Yom |
| Location Name | Suez |
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Description Date Format: (mm/dd/yyyy) |
A new mega company is now under establishment capitalized at $ 190 million to produce ammonia & urea in Ein Al Sukhna at a rate of 2,000 tons/ day. It is identified as the Egyptian Co. for Basic Industries. On its side, OCI – Orascom Construction Industries has announced it would invest 30 % in the company worth $ 57 million. Other founding shareholders in the venture include PSK Holding International, Emiral Group & EGPC – Egyptian General Petroleum Corp. of the Petroleum Sector. Media reports indicated that 5 international banks expressed intentions to raise up to $ 350 million credits to finance the project of which $ 325 million backed by guarantees of EXIM Bank of the US. Reports have further revealed that the project founders have also concluded another agreement with EGPC to secure natural gas supplies. Meanwhile understanding agreements were also signed with international traders & distributors to export 100 % of the output abroad. |
| Sectors Section |
Beneficiary Sectors - Agriculture & Food Fertilizers & Agro Chemicals - Petroleum - Oil, Gas & Petrochemicals Petrochemicals - Industry Fertilizers & Agro Chemicals Petrochemicals |
