Chemical Industries Holding Company gets approval of bank syndicate on Kima 2
Yasser El-Naggar, Chemical Industries Holding Company’s Chairman, announced that the bank syndicate is set to approve the disbursement of USD130mn mid-Dec for the completion of Kima 2 project, implemented by Egyptian Chemical Industries (KIMA). The project is will produce ammonia and urea and is worth EGP11.5 bn.
Egyptian Chemical Industries (Kima): EGP8.52 as of 29 Nov. 2017, Rating: Sell, TP: EGP4.87/share, MCap: USD286mn, EGCH EY/EGCH.CA
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