Cairo – Mubasher: Egypt Kuwait Holding has opened and developed factories in Egypt at a combined value of EGP 1.40 billion, equivalent to nearly $46 million, through its fully-owned subsidiary Sprea Misr.
Sprea Misr inaugurated a factory for producing sulfuric acid to boost the capacity of a number of already-established petrochemical factories and production lines, according to the Middle East News Agency (MENA).
The Managing Director of Egypt Kuwait Holding, Sherif Zayat, indicated that the new sulfuric acid factory will have an annual production capacity of 165,000 tonnes.
Zayat noted that around 80% of the production will be directed to the Alexandria Fertilizers Company, which is 69%-owned by Egypt Kuwait Holding.
Last March, Egypt Kuwait Holding hiked its stake in Bawabet Al Kuwait Holding Company (BKH) to 84.79% for about $66.40 million.
