Cairo – Mubasher: Egyptian Chemical Industries (Kima) has completed nearly 94% of KIMA 2 facility for ammonia and urea production in the Upper Egypt governorate of Aswan.
The facility is set for completion next July, Kima said in a statement to the Egyptian Exchange (EGX).
In February, Kima, a subsidiary of Chemical Industries Holding Co., unveiled the completion of around 93.27% of KIMA 2 facility’s construction.
This project aims at filling the current gap in the fertilisers markets, in addition to planting 1.5 million acres with different types of fertilisers, the company highlighted.
The company plans to produce 1,200 tonnes of ammonia and 1,575 tonnes of urea from KIMA 2, according to the statement.
The facility is being qualified to operate with natural gas instead of electricity, the company added.
Kima seeks to boost the facility’s production capacity of nitrate fertilisers to 660 tonnes per day from 300 tonnes per day, as well as saving 150 megawatts per hour for the company, the statement noted.
KIMA 2 facility is being implemented by Italy’s Maire Tecnimont with over EGP 11 billion in investments.
In February, Kima posted it had turned to losses for the first half of fiscal year 2018/2019 with EGP 3.2 million in losses, against a net profit of EGP 57.6 million in H1-FY17/18.
