Cairo – Mubasher: The Board of Directors of Abu Qir Fertilizers and Chemical Industries Company has approved awarding the second phase of the supply and installation project of solar power plants to the Arab Organization for Industrialization.
In a statement to the Egyptian Exchange (EGX) today, the company clarified that the plants have a total capacity of approximately 3 MW, with an estimated investment cost of around EGP 76.17 million and a planned execution timeframe of 12 months.
It added that this step falls within the framework of the company's strategy aimed at enhancing energy efficiency, reducing reliance on grid-supplied electricity, and expanding the use of renewable energy sources, thereby contributing to optimizing operational costs and reducing the company's carbon footprint.
Furthermore, the Board unanimously approved the company's strategic plan prepared by the international firm McKinsey, with implementation set to commence as of the fiscal year 2027.
It noted that the Board also approved the company's financial statements for the financial period ended September 30, 2026.
