The board of Abu Qir Fertilizers has approved to proceed with the establishment of a company that will manage an ammonia plant planned to be launched on the land area, owned by the Egyptian General Petroleum Corporation (EGPC).
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The ammonia plant with a production capacity of 1,200 tonnes per day, a nitric acid plant with a capacity of 1,830 tonnes per day, and a granulated ammonium nitrate plant with a capacity of 2,400 tonnes per day,
With an estimated investment cost of $1.20 billion, 70% of the project is planned to be financed by bank loans and 30% by equity through a partnership between Abu Qir, EGPC, and some of the company’s shareholders.
