Arab Finance: Global petrochemicals producer Indorama Ventures is considering bolstering its cooperation with the Egyptian petroleum sector in the fields of green ammonia and feedstock manufacturing needed for making batteries and other industries, Vice Chairman Amit Lohia stated.
The announcement was made during a meeting between Lohia and the Egyptian Minister of Petroleum and Mineral Resources Karim Badawi to follow up on the establishment of a high-quality phosphate fertilizers factory in Ain Sokhna.
The project is set to be established with $400 to $500 million in investments, in partnership with Misr Phosphate Company.