logo
Plus   Neg
Share
Email

Thyssenkrupp Gets Major Order For Fertilizer Complex In Egypt

thyssenkrupp (TYEKF.PK) said that its plant engineering business has won a major order from the Egyptian chemical and fertilizer manufacturer NCIC or El Nasr Company for Intermediate Chemicals.

The order for the engineering, procurement and construction or EPC of a new fertilizer complex was signed in Cairo on March 17, 2019. thyssenkrupp is realizing the project in a consortium with the Egyptian company PETROJET. The order value for thyssenkrupp is in the mid-three-digit million euro range.

The new fertilizer complex will be built in Ain El Sokhna, around 100 km southeast of Cairo, close to the existing NCIC phosphatic and compound fertilizer complex. It is expected to go into operation in 2022 and produce up to 440,000 tons of ammonia, 380,000 tons of urea and 300,000 tons of calcium ammonium nitrate (CAN) every year. The new plants are part of NCIC's plans to expand its current product portfolio to include high-quality nitrogen fertilizer for local and export markets.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Fiat Chrysler Automobiles N.V. (FCAU) has submitted a 50/50 merger proposal to the Board of Groupe Renault (RNSDY.PK, RNSDF.PK, RNT.L). Under the proposal, the combined company would be owned 50% by FCA shareholders and 50% by Groupe Renault shareholders. Separately, Groupe Renault confirmed it has received... Alibaba is upgrading its intellectual property system using blockchain technology, according to local news outlet Sohu. Alibaba Platform Management expects this to benefit mainly small and medium-sized enterprises, brands and entrepreneurs. The technology will be fully implemented in September, and thereafter, the company intends to expand it to the field of digital copyright protection. Electronics retailer Best Buy Co., Inc. (BBY) reported Thursday a 27 percent increase in profit for the first quarter from last year, which was impacted by restructuring charges, and higher revenues. Both adjusted earnings per share and revenues for the quarter topped analysts' estimates. The company also provides guidance for the second quarter and reiterated its outlook for the full-year 2020.
Follow RTT