Arab Finance4 Egyptian and Arab companies are competing to revive and develop the Egyptian Delta Fertilizers and Chemical Industries after they stopped working, with an initial value of up to $450 million, according to the East Economy.
Among the companies that expressed their desire to rehabilitate and develop the Delta Fertilizers are: Abu Qir Fertilizers, Misr Fertilizer Production (MOPCO), Egyptian Petrochemical Holding, and a company affiliated with the Saudi Public Investment Fund.
The initial value of the company's redevelopment process will be in the range of $450 million, and will be determined after the end of the current evaluation process. It was stated that awarding the contract with one of the companies will be in the first quarter of 2025.
Baker Tilly Financial Consulting is working to complete the preparation of the fair value of the rehabilitation and development process for the Delta Fertilizer Factories within two weeks, and the National Investment Bank Pharos has been appointed to promote the redevelopment process with the indicated investors or alliances.
It is worth noting that Delta Fertilizers was established in 1998, and is owned by the Holding Company for Government Chemical Industries. It has been out of business for about 4 years, causing it losses worth 309 million pounds ($6.3 million) in the fiscal year 2022-2023, which ended in June 2023.
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