Egyptian Financial and Industrial Co. (EFIC) is considering setting up a compound fertilizer production line, according to a report by Daily News Egypt, citing an unnamed company source. The new proposal replaces an earlier plan by EFIC for a potassium sulfate production line.
Discussions for the new compound fertilizer line are ongoing at board level, with a decision likely within 3-6 months.
The production capacity under consideration has not been reported, but around 80 percent of output is expected to be exported.
EFIC’s management expects the project to take around three years to break even and contribute cash flow, according to the report. However, a decision on how to fund the project has yet to be made.
EFIC is a 99.9 percent-owned subsidiary of the Suez Company for Fertilizers and produces and exports SSP, GSSP, ammonium sulfate, and di-calcium phosphate, as well as producing sulfuric acid as a raw material. It operates two main plants at Kafr El-Zayat and Assuit.