The Clap Abu Qir Fertilizers (ABUK) board of directors have agreed in principle to establish 3 factories at a total cost of $1.2 billion.
The Factories One factory will go towards producing ammonia at a capacity of 1,200 tons per day. Another will produce nitric acid at a capacity of 1,830 tons per day, and the third will produce ammonium nitrate with a capacity of 2,400 tons per day.
Abu Qir will also establish a company to manage the entire project, which will be financed 70% by debt and 30% from Abu Qir’s retained earnings. The project’s expected internal rate of return is 12.6%.