International for Agricultural Products, El Dawlia, Ebdaa to establish EGP 500M company
Updated 5/17/2022 11:19:00 AMArabFinance: International Company for Agricultural Products (IFAP) and International Company for Fertilizers and Chemicals (El Dawlia) (ICFC) have entered into an agreement with Ebdaa for Project Development to establish a company with an authorized capital of EGP 500 million, according to a filing to the Egyptian Exchange (EGX) on Tuesday.
IFAP will hold 59% of the company’s shares, while Ebdaa will hold a 40% stake and El Dawlia will have the remaining 1%.
The new company will be specialized in the management of industrial projects, in addition to importation and exportation.
ICFC was founded in 2001 as a joint-stock company specialized in the blended phosphate fertilizer industry and soluble fertilizers were added to help support the industry.
IFAP is engaged in farming, trading, and distribution of crops and seeds. The company purchases cotton flowers and cotton seeds from producers, undertakes contracting activities with cotton ginning companies, and trades in cotton fibers and seeds.
