Mohamed El-Shimy, Minister of Public Enterprises Sector, announced that the ministry is implementing a comprehensive plan to modernise and develop its affiliated companies through ambitious expansion projects. These initiatives aim to introduce advanced technologies, promote local manufacturing, and reduce reliance on imports, thereby enhancing value-added production and improving the competitiveness of national products. He underscored the importance of adhering to project timelines with the highest standards of quality and efficiency, alongside efforts to strengthen marketing strategies, open new markets, invest in human capital, motivate workers, ensure environmental sustainability, and adopt best industrial practices. El-Shimy made these remarks during the ordinary and extraordinary general assembly meetings of the Chemical Industries Holding Company, held to approve the draft budget for the 2025/2026 fiscal year and review ongoing development and investment plans. The meetings were attended by members of the general assembly, representatives from the Central Auditing Organisation, and the company's board of directors, chaired by Saad Abu El-Maaty. The minister highlighted the pivotal role of the Chemical Industries Holding Company in supporting the national economy, citing its strong portfolio of subsidiaries, established brands, and diverse production capacities. He stressed the need to optimise the use of production assets, maximise returns, and expand strategic partnerships with the private sector in line with the State Ownership Policy Document. Such partnerships, he explained, will help unlock new opportunities for industrial growth, technology transfer, and local production. El-Shimy also reaffirmed the importance of complying with standards in occupational safety and health, environmental protection, preventive and routine maintenance, quality control, and sound governance. He noted that operational efficiency and sustainability are the main pillars underpinning the new budget. For his part, Emad El-Din Mostafa, Executive Managing Director of the Chemical Industries Holding Company, presented the draft budget, which targets revenues of EGP 22.4bn, net profits of EGP 7.1bn, and exports worth EGP 10.3bn. He emphasised that the budget aligns with the Ministry of Public Enterprises Sector's strategy, derived from Egypt's Vision 2030, the government's programme of action, and the State Ownership Policy Document. The focus remains on maximising economic returns from assets, improving operational efficiency, increasing value-added production, and expanding into export markets. The board's report detailed several major investment and expansion projects. In the fertiliser sector, these include building two new plants at KIMA for the production of nitric acid and ammonium nitrate, as well as restarting the ferrosilicon plant at KIMA, which had been idle for five years and has now been refurbished and brought back into operation. Additional projects include reviving Delta Fertilisers through urgent repairs and restarting the ammonia and urea plants; refurbishing the ammonia compressor at El Nasr Fertilisers to double production capacity; and developing a green ammonia production project in partnership with the private sector. Other ventures include the production of chlorine granules at Misr Chemical Industries, manufacturing pre-stressed concrete wire (PC Wire), and introducing new products by SIGOART and El Yayyat, such as railway sleepers and metro brake pads. The Naropeen conveyor belt factory will also undergo modernisation. These projects aim to achieve a qualitative leap in the industrial performance of the affiliated companies, increase their contribution to the national economy, support state efforts to substitute imports and boost exports, broaden the local production base, and promote sustainable industrial development. During the extraordinary general assembly, it was also agreed to raise the company's authorised capital from EGP 10bn to EGP 18bn and increase the issued and paid-up capital from EGP 9bn to EGP 17bn. This capital increase is intended to strengthen the company's financial position and support its development and investment plans.
