BPI signs PPP deal to build new ammonia plant in Suez
Egyptian private-sector firm Benchmark Power International (BPI) and state-run El Nasr For Fertilizers and Chemicals Industries (SEMADCO) signed a preliminary deal to establish a$600 million ammonia production plant in Suez.
The Minister of Public Business Sector Hesham Tawfik has witnessed the signing ceremony of the MOU. The new plant will be with total daily capacity of 1200 tonnes in the first phase, that will be doubled reaching the second phase.
According to the MoU El Nasr Company will grant BPI an unexploited plot of land with an area of 460,000 square meters to build up the plant on a 25-year usufruct basis.
Benchmark Power International is a leading regional utility, development and investment platform company, with a diversified portfolio of utility projects, including thermal and renewable power plants as well as ammonia production in addition to water desalination plant in North & Sub-Saharan Africa. The Company was founded in 2007, and has evolved to be the business partner of choice in private utility–scale projects with a regional focus.
While, SEMADCO is an Egyptian contributing company belonging to The Chemical Industries Holding Company and the Minister of Public Business Sector. The company works in the field of production & marketing of nitrogenous liquid , solid fertilizers & chemicals.