Egyptian Chemical Industries (Kima) has signed a memorandum of understanding (MoU) to restructure the joint loan for its Ammonia and Urea Fertilizers Plant, according to a statement.
Kima’s existing loan stands at $292 million, in addition to $1.92 billion obtained from a consortium of Egyptian banks, including the National Bank of Egypt (NBE), Banque du Caire, Banque Misr, and others.
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The loan was used to finance Kima’s project in Aswan, which is currently operating by 80% for the ammonia production line and by 104% for the urea line.
Kima Fertilizer Complex is expected to have a production capacity of 1,200 tonnes/day of ammonia as well as 1,575 tonnes/day of urea.
