Egypt Kuwait Holding (EK Holding) and Abu Qir Fertilizers have concluded an agreement last week providing for the establishment of a new fertilizer manufacturing company, with a paid-in capital of $165 million. The company will target both the local and export market.
A mutual 20 percent stake in the joint venture will be held by each party. The remaining shares will be divided between several banks including Commercial International Bank (CIB), Export Development Bank of Egypt and MIBank, reported Al-Alam Al-Yaum.
Established in 1997 in Egypt as a joint stock Holding Company, EK Holding is an Egyptian investment company, co-founder of and a majority shareholder in NATGAS. EK Holding has a capital of $500 million subscribed by its founders, a number of prominent institutional and individual Kuwaiti and Egyptian Investors as well as 7,000 individual shareholders and a paid in capital of $120 Million. — (menareport.com)
© 2003 Mena Report (www.menareport.com)
