Abu Qir Fertilizers to get about $100m loan from NBK
Company to use loan in financing expansion: Sources
Latest in Tag: Abu Qir Fertilizers Highlight
Latest in Tag: Abu Qir Fertilizers
Abu Qir Fertilizers looks into feasibility studies of methanol project
The previous results came with a 21% economic return which is a high return compared to the field. However, the company is now revising the feasibility studies of the project given the changes in natural gas cost and methanol prices.
Abu Qir Fertilizers aims to sell 10% stake within government IPO programme
The company informed the Egyptian Exchange on Wednesday that a promotion contract was signed with CI Capital, EFG Hermes, and Al Ahly Pharos to promote and cover the subscription.
Abu Qir Fertilizers to establish methanol, ammonia complex in SCZone
Complex to produce 1 million tonnes of methanol, 400k tonnes of ammonia annually
High prices at Egypt’s Abu Qir Fertilizers compensate for sequential lower booked volumes
Company sells 559k tonnes in Q3 versus 634k tonnes in Q2 of FY 2020/21
Abu Qir Fertilizers negotiates with 11 financial institutions to get $80m-$100m fund
Company enters agreement to export urea in February at average price of $317/tonne
Abu Qir Fertilizers increases production capacity of its “3” plant
Abu Qir Fertilizers launched a project to reduce carbon dioxide emissions and raise the production capacity of the Abu Qir 3 plant. The company said in a statement to the Egyptian Exchange on Sunday that the procedures include awarding a license to Stamicarbon to carry out technical studies for the development of the liquid urea …
Fertiliser stocks rise on speculation of subsidy removal, investment law amendments
If implemented, it would spell very good news for local fertiliser producers, which currently sell around 40%-50% of their urea and nitrate fertiliser output to the government at a discount of about 30% to the market price.
Abu Qir Fertilizers to report strong results in 1Q FY21
The company’s top-line is estimated to come in at EGP 2.069bn, reflecting unchanged results quarter-on-quarter (q-o-q), but a rise of 4% year-on-year (y-o-y). Gross margins are set to register 43.6%, reflecting a rise of 10.9% q-o-q and 6.1% y-o-y.
Abu Qir Fertilizers to start feasibility studies on $2.6bn methanol factory
The second phase, which will cost an estimated $1bn, will add new production lines of acetic acid, MTO, and calcium ammonium nitrate.
Abu Qir Fertilizers to increase urea production by 6-8%
The project is expected to see investments of $80mn-$90mn, with Ahli Capital appointed as the financial advisor. Its timeline is estimated at 24 months, starting from the end of the current year.
Abu Qir Fertilizers sees revenue growth due to high sales in Q4 of FY20
Going forward for Q1 of FY 2021, Naeem Research holds a neutral outlook on AFC’s earnings, as sales volumes are expected to remain strong. This comes despite fertiliser prices likely to remain weak, including with urea trading at $230/tonne.
Abu Qir Fertilizers revenues affected by urea lower prices, local currency appreciation
The decline in revenues was attributed to several factors, including a downward trend in urea prices. Egypt’s urea spot index averaged $248/tonne in 3Q 2019/20, a decline of 6% y-o-y, but a rise of 2.2% q-o-q.
Abu Qir Fertilizers suffers fall-out due to COVID-19-related restrictions
Pandemic negatively affects market demand, domestic prices levels, leading to decrease in sales revenues
Abu Qir Fertilizers to offer additional stake on EGX in 2H 2020
Company plans to increase exports to 70% from 55% by year-end
Abu Qir Fertilizers profits grow 30% to EGP 3.15bn in FY 2018/19
The company’s profits reached EGP 3.15bn during the period from July 2018 to June 2019, compared to EGP 2.4bn in FY 2017/18.
ThyssenKrupp develops two production units in Abu Qir Fertilizers for €133m
ThyssenKrupp Industrial Solutions in Egypt allocated €133m worth of investments to expand and develop the machinery of Abu Qir Fertilizers. The project will start by the beginning of the next year, and the contracts will be concluded soon, according to Thore Lohmann, country CEO of ThyssenKrupp Industrial Solutions in Egypt. He said that the company …