Kima 2 fertilizers plant to be inaugurated by Sisi on 30 June

Egyptian chemicals company Kima will begin operations at its new manufacturing facility “Kima 2” in Aswan on 30 June after an inauguration ceremony presided by President Abdel Fattah El Sisi, Chemical Industries Holding Co.’s Chairman Emad El Din Moustafa told Youm7. The project cost EGP 11.6 bn, with 62% of the financing coming from a consortium of six banks. The project was scheduled to be completed in November last year but Italian engineering and construction firm Tecnimont asked for a five-month extension and an extra USD 76 mn to complete it.