Italy’s Maire Tecnimont To Start Construction Of Kima 2 Project

Italy’s Maire Tecnimont will start on Kima 2 project construction in Aswan in the current month, Egyptian Chemical Industries (KIMA) (EGCH) board member Saleh Abu Zeid said.

The board of director of the firm approved before Eid break to pay the down payment for the Italian firm worth $39 million, in addition to LE76 million according to the contract, according to financial newspaper AlBorsa.

Abu Zeid added that the project will take 33 months to complete and that the firm worked 3 years to finish the studies and adjust the project in accordance with the bank’s terms and providing the needed liquidity.

Source: AlBorsa newspaper & Arab Finance