January 12, 2022

Air Supply, KIMA to build medical, industrial gas plant


ArabFinance: Air Supply Group has signed a contract with Egyptian Chemical Industries (KIMA) (EGCH) to establish a new medical and industrial gas plant, Al Borsa Newspaper reported, citing General Manager of Air Supply Karim Sadek.

The group aims at purchasing, building, managing, and operating medical and industrial gas plants within KIMA in the governorate of Aswan, with a total investment estimated at EGP 260 million.

The project targets supplying KIMA with industrial gas at a rate ranging between 40% and 50% of production capacity, Sadek highlighted.

The new plant is also expected to produce about 5,000 liters of oxygen and nitrogen per hour, equivalent to 170,000 tons a day.

Moreover, it aims at supplying hospitals and factories in Upper Egypt with oxygen as well as adding to Egypt’s production and strategic reserve of oxygen, the general manager added.

For his part, the Chairman of Air supply Ahmed Mostafa said that this project is the first of its kind in southern Egypt.

The project will be financed by 80% from banks, while the remaining 20% will be self-financed by Air Supply, Mostafa mentioned.

The production line will be built in an 11-month period to be installed within 3 months.

The new medical and industrial gas plant is set to begin operations in the first quarter (Q1) of 2023.

Air Supply Group is an Egypt-based specialist in the industrial gases field, with a 12-year of experience.

It is worth noting that CEO of KIMA Mohamed Hassanein Radwan said that the company plans to establish a new eco-friendly plant at an investment cost of $250 million.

KIMA is an Egypt-based nitrogen-based fertilizers manufacturing leader and is engaged in the agricultural chemicals industry sector.

The company produces and distributes various products, including urea, ammonium nitrate, ferrosilicon alloy, liquid ammonium nitrate fertilizer, prill ammonium nitrate fertilizer, liquid ammonia, aqua-ammonia, nitric acid, hydrochloric acid, and silica fume.

arabfinance


Categories : oil and gas

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