Egypt’s Evergrow postpones launch of mega projects due to coronavirus

Egyptian fertilizer company Evergrow will postpone the launch of its two mega projects until the current coronavirus crisis is over, its chairman said on Wednesday.

Mohamed El-Kheshen told Amwal Al Ghad that the company decided to postpone its projects in Aswan and Sadat cities, which are part of its expansion plans into the local market and with total investments worth up to 19 billion Egyptian pounds ($1.2 billion).

The decision was made after its making consultations with international partners over the importance of postponing the projects until the pandemic crisis is over, El-Kheshen said.

Evergrow plans to set up a plant for the production of potassium sulphate, calcium diphosphate, and sulphuric acid in Aswan on a space of 420,000 square metres and with total investments worth around 9 billion pounds.

As for the second project, the company plans to build a plant over 500,000 square metres to produce phosphoric, nitric, and sulphuric acids as well as potassium sulphate and calcium chloride, with total investments worth around 10 billion pounds.