Evergrow to receive EGP360 bln finances from a Gulf banking consortium in August

Egyptian fertilizer company Evergrow is seeking to complete the procedures of receiving 360 Egyptian pounds from a Gulf banking consortium during August, according to chairman Mohamed El-Kheshen.

El-Kheshen told Amwal Al Ghad  that the new finances will be directed to to complete the third phase expansion plans in order to start the operations of three factories.

The three factories include DCP plant (calcium diphosphate) with a production capacity of 110 thousand tonnes annually, a new plant of calcium chloride, and a phosphoric acid plant with a concentration of 85 percent with a capacity of 30 thousand tonnes annually.

Evergrow is exporting its products to more than 70 countries worldwide, as the company expands Europe, North and South America, Asia and Africa, especially in “Japan, America, Italy, Greece, Morocco, Algeria, Canada, New Zealand and Australia”

While  thee company’s production capacities reach about one million tonnes of Specialized fertilizers annually with investments of 8 billion pounds.