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Thursday, 28 September 2017

Fertilizer producer Evergrow to build new EGP 9.5 bn fertilizer plant in Egypt

INVESTMENT WATCH- Evergrow to invest EGP 9.5 bn in new fertilizer plant withtwo foreign partners. Fertilizer producer Evergrow is investing EGP 9.5 bn to build a new plant in Egypt, Trade and Industry Minister Tarek Kabil said yesterday, according to a statement picked up by Reuters. The plant is expected to begin operations by 2020, producing an annual 600k tonnes of fertilizer, 500k tonnes of calcium diphosphate, and 700k tonnes of sulfuric acid. The goal is to export 75% of output to regional and international markets, with a specific focus on East Africa, according to Evergrow’s CEO Mohamed El Kheshen. The new facility will be established in partnership with two international firms that the statement does not name. Funding details have also yet to emerge.

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