The Egyptian company will invest some USD 8 million to step up its production capacity and meet the growing demand for fertilizers from both the domestic and international markets.
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According to the Chemicals and Fertilizers Export Council of Egypt, the country intends to increase fertilizer exports by 30% this year. Brazil is one of the markets with great potential for expansion.
The complex includes six factories that have a total production capacity up to 1.7 million tons and investments of USD 800 million.
Latin American ambassadors and representatives from the Arab Brazilian Chamber visited plants of the company Abu-Qir in Alexandria and received information on the Egyptian fertilizer production. Latin American states will be the focus of a mission from the Arab country.
In a seminar held by the Arab Brazilian Chamber in Cairo, the Brazilian Agriculture Ministry presented growth prospects for Brazil as a global food supplier and Egypt’s relevant role as a fertilizer supplier to Brazil.
Producers will be required to direct 55% at the subsidized price of EGP 4,500 (USD 286) instead of EGP 3,300 (USD 210), the Ministry of Agriculture of Egypt said.
