FILE- KIMA CAIRO -- 19 June 2019: President Abdel Fatah al-Sisi will inaugurate KIMA 2 plant on June 30, 2019, Chairman of Chemical Industries Holding Company
Emad el-Din Mostafa said.
The Chemical Industries Holding Company
announced the offering of 4.5% of the shares of Eastern Tobacco to the stock market, with 95% in a private offering, and 5% for public offering.
The Egyptian Chemical Industries (KIMA) - Company's website CAIRO -- 26 March 2019: Chairman of Chemical Industries Holding Company
Emad el-Din Mostafa announced that KIMA 2 plant will be inaugurated on June 30 revolution anniversary.
Philip Morris and the Chemical Industries Holding Company
claimed that the amendment to the manufacturing contract guarantees the payment of all of the Eastern Tobacco Company's liabilities, stating that it would not affect the company's revenues from its dealings with the foreign company, which make up about 80% of its total revenue that stands at about LE 1.5 billion.
The government intends to offer 4.5% of the Eastern Company, a subsidiary of Chemical Industries Holding Company
, on the stock market, bringing the offered share to 49.5%, while the government holds the controlling stake of 50.5%.
Abu Qir Fertilisers and Chemical Industries Holding Company
's board of directors decided to obtain funding for its nitrate project from the National Bank of Egypt, Banque Misr, and QNB.
"The ammonia production units will start operating in February, followed by the operation of urea units and the official opening of the plant in March," Deputy Chairman of Chemical Industries Holding Company
Waleed el-Rashidy said.
The issue is about offering shares of companies on the EGX in order to fund the development of production lines through expanding the ownership base," said the chairperson of the Chemical Industries Holding Company
, Medhat Nafea.
Indonesia's state-owned Multistrada Company asked to reopen negotiations with the Chemical Industries Holding Company
(CIHC) to have a tire factory in Egypt, the ambassador said.
Chemical Industries Holding Company
announced in May completing 53% of the KIMA Aswan development project to upgrade the plant to operate on natural gas and produce 2,757 tonnes of various fertilisers per day.
In March, The extraordinary general assembly of Chemical Industries Holding Company
approved issuing 4 percent of its stake in Eastern Tobacco on EGX.
Chairperson of the Chemical Industries Holding Company
(CIHC), Yasser El Naggar, presented a report of the board of directors regarding the terms of the estimated budget of the company and the projects targeted the next fiscal year.