Abu Qir Fertilizers is in talks with a consortium of local banks over a USD-denominated loan worth EGP 3.5 bn, according to a bourse disclosure. The funding will be used to clear bottlenecks in acid and nitrate plants. The company is also expected to inaugurate its industrial waste treatment project in 1Q2018 to reduce its fresh water consumption by half. Also, Abu Qir Fertilizers is looking to build new factories in the Suez Canal economic zone.

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