The Cairo-based International Chemicals Company (ICC) has recently made significant investments, totaling $15 million in its Suez plant. The move is part of a three-phase expansion and growth plan, implemented by shareholders Nimir Chemicals and Egyptian American Bank (EAB).
Founded in 1997, ICC is Egypt’s sole manufacturer of Sodium Tri-Poly Phosphate (STPP), an ingredient critical in making ceramics and laundry detergent. ICC supplies the steadily increasing demand of local manufacturers, including Pharaohs Ceramics, Proctor & Gamble, Unilever, and Henkel.
ICC plans to double its current production capacity to 48,000TPA by 2005. Phase One, related to equipment upgrading, was recently completed and Phase Two, devoted to loading, calcinating and packaging expansion, began this week.
Nimir Chemicals, ICC’s parent group, took over the company’s management in June 2002. ICC currently employs nearly 100 Egyptian staff members in Suez and Cairo.
The Nimir Group of energy companies is headquartered in London. The Group’s principal businesses are the exploration and production of oil and gas through Nimir Petroleum Ltd; and the manufacture and distribution of specialty chemicals in the Middle East, Asia and Africa through Nimir Chemicals Company Ltd.
Nimir Chemicals Company Limited is an international chemicals company based in Dubai with subsidiary companies in Pakistan, Dubai, Sharjah and Egypt. Established in 1997 Nimir Chemicals has become a portfolio of specialty chemicals businesses.
In early 2002 NCCL’s management embarked on an aggressive growth strategy. The company is targeting new projects in existing and new markets, acquisitions and strategic alliances with some of the regions biggest industrial groups. — (menareport.com)
© 2003 Mena Report (www.menareport.com)
