Abu Qir launches a new company with EGP 10 billion capital

Abu Qir Fertilizers established a new company named North Abu Qir for Agricultural Nutrients, with an authorized capital of LE 10 billion and paid-up capital of LE 1 billion.

The structure of shareholders in the new company includes the North Abu Qir Company for Fertilizers and Chemical Industries by 45 percent, the Egyptian General Petroleum Corporation by 45 percent, and the Egyptian Petrochemical Holding Company by 10 percent.

The new company will have an annual ammonia production capacity of 1200 tons per day, production of nitric acid with a capacity of 1830 tons per day, and production of ammonium nitrate with a capacity of 2400 tons per day.

Tarek El-Molla, Egypt’s Minister of Petroleum and Mineral Resources, chaired the founding assembly of the new company, laid the foundation stone for North Abu Qir Agricultural Nutrients Company and inaugurated the integrated industrial waste treatment plant in Abu Qir Fertilizers.

The assembly also reviewed the agenda and approved the shareholders for its items, and the members of the board of directors were appointed.