Egypt's President Abdel Fatah al-Sisi will inaugurate KIMA 2 project in Upper Egyptian governorate of Aswan by the end of this month, Chairman of Chemical Industries Holding Co. Emad el-Din Mostafa said. KIMA 2 is the largest chemical project in the Middle East over 60 feddans; the project would provide 3,700 job opportunities, Mostafa said. The chairman added that he will inspect the project on Wednesday, June 19, to monitor the operation of the ammonia units, which started working, in preparation for the operation of the urea units next week. “The ammonia plant will produce about 1,220 tons per day, while the urea plant will produce about 1,570 tons of urea per day, with a total of 570,000 tons per year,” he said. According to Mostafa, the project cost 11.6 billion pounds, 62 percent of which came from bank funding and the rest was provided by contributors. Earlier, Mostafa pointed out that the project targets to achieve 400 million pounds in the first year of operation, which will increase to reach about 1 billion pounds annually with the development of the old part of the plant. "We expect the factory to pay costs over 8 years, and contribute to the provision of jobs for engineers, technicians and chemists; workers have already been selected. As the project progresses, there will be more jobs for Aswan's people," he referred. KIMA 2 is a facility for fertilizer manufacturing that is being built at the existing site of the company's Aswan fertilizer complex at a cost of 11.6 billion pounds. The Egyptian Chemical Industries, known as KIMA, is affiliated to the Chemical Industries Holding Company, producing nitrogenous fertilizers and chemicals, including hydrogen and ammonia. Source: Egypt Today
