First MOPCO Fertilizers Production Line To Run Next July: ECHEM

MOPCO (MFPC) Fertilizers’ first production line will operate next July to add approximately 650,000 tonnes of nitrogenous fertilisers to production every year.

An official at the Egyptian Petrochemicals Holding Company (ECHEM) told Daily News Egypt that the last phase of MOPCO’s expansions includes a second production line. This will be in operation by the end of this year, and will add 650,000 tonnes of nitrogenous fertilisers.

He said the company targets to increase the production capacity to 2m tonnes of nitrogenous fertilisers annually by the end of this year. To reach this amount, gas supplies for the company’s factory should be available. The official added that the final phase of the factory’s expansions cost $2bn.

MOPCO Fertilizers’s shareholders consist of EHCEM, Egyptian Natural Gas Holding Company (EGAS), Egyptian Natural Gas Company (GASCO), the National Investment Bank, the National Bank of Egypt, Misr Insurance Company, Misr Life Insurance, Nasser Social Bank (NSB) and the Arab Petroleum Corporation (APICORP).

The official concluded that part of MOPCO Fertilizers’ shares will be launched in the Egyptian Exchange (EGX) once the new expansions operate. In this regard, as per the shareholders’ demand, a request was raised to list the company in the EGX.

Source: Daily News Egypt