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EGYPT : Egyptian state owned firm to ink US$ 600 million contract to upgrade its plant
Publish Date : 04-Nov-2011
The Egyptian state owned firm, Delta Fertilizers and Chemicals Industries,plans to ink US$ 600 million contract for advancing its plant in Talkha City north of Cairo.
The company has received bids from 4 international companies including Italy based Tecnimont and Saipem, Germany based ThyssenKrupp Uhde and Korea\'s Samsung Fine Chemical.
Newly, the state owned companies in Egypt mainly the companies in the chemicals and fertilizers sector are in a move to modernize and expand their manufacturing units. The Egyptian Chemical Industries Company entered into a deal with Tecnimont worth US$ 560 million to upgrade its urea plant, on October 30th 2011.
As of now, ASMEDA is evaluating the received bids and is expected to sing a deal next week. ASMEDA deals in manufacturing of chemical fertilizers.
