Cairo – Mubasher: Chemical Industries Holding Company (CIHC) is planning to invest EGP 10 billion in subsidiaries operating in the fertilisers market over the next three years, CIHC’s chairman Emad El Din Moustafa stated on Tuesday.
Over the coming period, CIHC is set to open the second phase of Ain Shokhna Complex, along with Kima Aswan’s nitric acid unit and a new ammonia unit of El Nasr for Fertilizers & Chemical Industries (SEMADCO), Moustafa added.
The top official mentioned El Wady For Phosphate Industries And Fertilizers Company’s project to produce one million tonnes of commercial phosphoric acid annually.
Production from El Wady’s project is expected to commence in the fourth quarter of the fiscal year 2022, Moustafa revealed.
