Cairo – Mubasher: Delta Company for Fertilizers and Chemical Industries is reportedly in talks with three local banks over a mega loan.
The Egyptian fertiliser firm is negotiating a $140-million loan to establish a nitric acid facility, sources told Al Mal newspaper.
The banks in question are the National Bank of Egypt (NBE), the Commercial International Bank (CIB), and QNB AlAhli, they added.
Chemical Industries Holding Company (CIHC), which owns Delta Company for Fertilizers and Chemical Industries, is looking to rehabilitate its fertiliser plants to work at maximum capacity, CIHC chairman Emad El Din Mostafa said.
He added that the rehabilitation will also help ensure strong economic returns as the company adds new production lines.
Mostafa previously told Al Mal that the total investment cost for the rehabilitation process was EGP 1 billion and entailed the rehabilitation of the Talkha plant, establishing a new unit, and executing a new production scheme aimed at avoiding gaseous emissions and industrial wastes.
