International for Agricultural Products, El Dawlia, Ebdaa launch EGP 500M company
Updated 6/14/2022 10:29:00 AM
ArabFinance: International Company for Fertilizers and Chemicals (El Dawlia) (ICFC) has announced the establishment of Ebdaa for Chemical Industries in partnership with International Company for Agricultural Products (IFAP) and Ebdaa for Project Development, according to a filing to the Egyptian Exchange (EGX) on Tuesday.
The new company’s authorized capital amounts to EGP 500 million, while the issued capital stands at EGP 5 million.
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 establish, operate, and manage a factory for production of mono- and di-calcium phosphate.
The new company will also 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 blended phosphate fertilizers and soluble fertilizers.
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.
