CAIRO – 10 March 2021: Misr Chemical Industries’ (MICH) planning budget for the fiscal year 2021/2022 aims to invest about LE203 million, of which LE 103 million are local investments and LE 100 million are foreign investments.
MICH stated in a statement to the Egyptian Exchange (EGX), Wednesday, that the approval of the Environmental Affairs Agency was obtained to finance two projects to replace and define the evaporators unit and expansion and development of the industrial wastewater unit at a value of LE 150 million, including a 20 percent grant within the pollution control project EPAP 2, and the tenders for the implementation are being finalized.
Misr Chemical Industries achieved, during the first half of the current fiscal year (2020-2021), a net profit of LE 82.26 million, compared to LE 14.34 million during the same period of the last fiscal year.
The company's revenues increased during July-December period to reach LE 248.63 million, compared to LE 153.59 million during the same period of the previous fiscal year.
Established in 1959, the company operates within the materials sector focusing on commodity chemicals.
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