Latest news with #AbuQirFertilizers

TimesLIVE
30-06-2025
- Business
- TimesLIVE
Egyptian firms sign final contracts with Chinese consortium to build chemical plant
Several Egyptian companies signed on Sunday final contracts with a Chinese consortium comprising China State Engineering Corp and East China Engineering Science and Technology Company to build a phosphoric acid plant in Egypt's New Valley area. The plant, which has an investment value of $658m (R11.70bn), will have the capacity to produce 250,000 tons of concentrated phosphoric acid in the first phase of the project, Egypt's petroleum ministry said in a statement. Egyptian participants in the project include leading fertiliser producer, Abu Qir Fertilizers, state-owned Misr Phosphate and others.


Asharq Al-Awsat
29-06-2025
- Business
- Asharq Al-Awsat
Egyptian Firms Sign Final Contracts with Chinese Consortium to Build Chemical Plant
Several Egyptian companies signed on Sunday final contracts with a Chinese consortium comprising China State Engineering Corp and East China Engineering Science and Technology Company to build a phosphoric acid plant in Egypt's New Valley area, Reuters reported. The plant, which has an investment value of $658 million, will have the capacity to produce 250,000 tons of concentrated phosphoric acid in the first phase of the project, Egypt's petroleum ministry said in a statement. Egyptian participants in the project include leading fertilizer producer, Abu Qir Fertilizers, state-owned Misr Phosphate and others.


Zawya
16-06-2025
- Business
- Zawya
Egypt: Abu Qir Fertilizers plans to enhance operations amid Middle East war
Arab Finance: Abu Qir Fertilizers and Chemicals Industries Company (ABUK) decided to implement an intensive maintenance plan for its plants to enhance operating conditions, according to a bourse statement. This step comes as a result of the repercussions of the rising tensions in the Middle East and their impact on the natural gas supplied to the company's plants. Meanwhile, Abu Qir Fertilizers will disclose any material updates in due time to adhere to the disclosure rules for listed companies in the Egyptian Exchange (EGX). © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (


Zawya
21-05-2025
- Business
- Zawya
Egypt's fertiliser producers cut output as gas supplies slashed
Two of Egypt's largest fertiliser producers said on Wednesday they had received official notification of a two-week reduction in natural gas supply to their plants, triggering an immediate drop in production. Abu Qir Fertilizers and Chemical Industries and Misr Fertilizers Production both said in stock exchange statements that they expected output to drop by 30% during the period. The cuts come as Egypt faces growing gas supply challenges ahead of the peak summer season, with the government scrambling to secure additional gas and fuel oil cargoes to meet surging demand. Similar gas supply cuts were imposed on fertiliser producers in June last year, disrupting operations. Natural gas is a key input for fertiliser production, and any disruption can impact both domestic supply and export revenues. Egypt's natural gas output fell from 4.6 billion cubic metres in January 2024 to 3.3 billion cubic metres in February 2025 - the lowest since April 2016, according to the Joint Organisations Data Initiative. Egypt's Ministry of Petroleum has not yet commented on the reductions. Egypt has been working to position itself as a regional energy hub, but chronic gas shortages forced it to become a net importer, enforce rolling blackouts, and rely on foreign funding to meet its domestic needs. (Reporting by Nayera Abdallah and Mohamed Ezz. Editing by Mark Potter)


Reuters
21-05-2025
- Business
- Reuters
Egypt's fertiliser producers cut output as gas supplies slashed
CAIRO, May 21 (Reuters) - Two of Egypt's largest fertiliser producers said on Wednesday they had received official notification of a two-week reduction in natural gas supply to their plants, triggering an immediate drop in production. Abu Qir Fertilizers and Chemical Industries and Misr Fertilizers Production both said in stock exchange statements that they expected output to drop by 30% during the period. The cuts come as Egypt faces growing gas supply challenges ahead of the peak summer season, with the government scrambling to secure additional gas and fuel oil cargoes to meet surging demand. Similar gas supply cuts were imposed on fertiliser producers in June last year, disrupting operations. Natural gas is a key input for fertiliser production, and any disruption can impact both domestic supply and export revenues. Egypt's natural gas output fell from 4.6 billion cubic metres in January 2024 to 3.3 billion cubic metres in February 2025 - the lowest since April 2016, according to the Joint Organisations Data Initiative. Egypt's Ministry of Petroleum has not yet commented on the reductions. Egypt has been working to position itself as a regional energy hub, but chronic gas shortages forced it to become a net importer, enforce rolling blackouts, and rely on foreign funding to meet its domestic needs.