Egypt Kuwait Holding Company and Tri-Ocean Energy stake amounts to 36% of the US$149 million paid in capital in EHC.
The project is located in North West Suez Gulf Zone, which is expected to produce Nitric Acid as an intermediate product to be converted to produce Mining Grade Ammonium Nitrate (MGAN) at a capacity of 1,060 tons per day.
EHC total investment cost amounts to US$454 million and is expected to start operations after 33 months, where the project will create approximately 3,000 job opportunities during construction period and about 500 permanent jobs during operations.
Mr. Basil El-Baz, Mr. Osama Saleh (center) and Mr. Moataz Al Alfi.