New project on Ferchem Masr's land in Monufia

Updated 7/15/2020 10:55:00 AM

ArabFinance: Ferchem Masr for Fertilizers and Chemicals (FERC) stated that Abu Zaabal Fertilizers and Chemicals Company rented an area of 5,000 square meters from the former's land plot located in Monufia Governorate, according to the company's July 15th statement filed to the Egyptian Exchange.

Abu Zaabal rented the land in order to establish an industrial project to manufacture fertilizers.

Ferchem Masr posted a net profit of EGP 5,060,504 in Quarter one (Q1) of 2020, a 40% increase from EGP 3,602,911 achieved in Q1 2019. 

Founded in 2001 as a leading joint-stock company, Ferchem Masr is specialized in blended fertilizer industry Phosphate and soluble fertilizers were added to help support the fertilizer industry and agriculture in Egypt.