The Egyptian Company for Chemical Industries (Kima) has proposed a plan to connect the provinces of Aswan and Al-Wadi with a natural gas pipeline, allowing the company open a factory for the production of nitrogen and urea fertilizers, reported Al-Gumhuriyya .
The new factory would have an annual capacity of 500,000 tons of urea and 400,000 tons of nitrates. According to Kima’s chairman Salah Al-Din Ahmad Muamin, the company’s sales reached 60 million Egyptian pounds ($9.7 million) in 2003 and exports reached EP 27.7 million.
Kima was set up in 1959 to use the surplus power generated by the Aswan Dam and was transferred to a public enterprise company in 1992 as a step towards privatization. More than 51 per cent of the company is owned by the government, represented by the Holding Company for Chemical Industries.
Kima’s main export markets are Turkey, Greece, Jordan, Morocco, Tunisia, the United Arab Emirates (UAE), Japan, Syria and Saudi Arabia. — (menareport.com)
© 2004 Mena Report (www.menareport.com)
