Cairo – Mubasher: Abu Qir Fertilizers on Wednesday announced that its board has decided to assign the financing of the nitric acid project with EUR 105 million to a three-bank consortium of National Bank of Egypt (NBE), Banque Misr, and Qatar National Bank Alahli (QNB Alahli).
German-based ThyssenKrupp will be responsible for the execution of the project with EUR 133.6 million in investments, Abu Qir highlighted in a filing to the Egyptian Exchange (EGX).
In January 2018, the Egyptian fertilisers producer said it was in talks with banks over obtaining an EGP 3.5 billion ($198 million) loan.
The company’s capital amounts to EGP 1.89 billion distributed over 1.26 million shares at a par value of EGP 1.5 per share.
