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FINANCIAL NEWS
Egypt opens USD 7.96bn expansion at MOPCO factory
22 May 2016
(MENAFN) Egypt opened a USD 1.96bn expansion at Misr Fertilizers Production Co. (MOPCO) factory in Damietta.
Furthermore, the expansions were financed with loans value USD 1.050bn, besides USD 910mn self-financing from shareholders in MOPCO.
Accordingly, the firm paid almost USD 200mn in premiums for the loan per year, and it is organized to be completely repaid five to six years.
Almost 60 percent of the urea generated by the factory will be exported in the light of concluding long-term exporting deals with more than 20 nations.
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