Evergrow to build EGP 2 bn fertilizer plant at Sadat City

INVESTMENT WATCH- Evergrow scaling back investment in fertilizer plant? It appears that fertilizer maker Evergrow has reduced projected spending on its calcium diphosphate plant, with Evergrow chairman Mohamed El Kheshen stating that the Sadat City plant will cost EGP 2 bn, down sharply from an initial estimate of EGP 9.5 bn, Al Mal reports. The plant will aim to export 75% of its production, El Kheshen said.