Supervisor Elham AbolFateh
Editor in Chief Mohamed Wadie

Air Supply Invests EGP 250 Mln in KIMA for Industrial Gas Production

Tue 04 Jan 2022 | 01:23 PM
NaDa Mustafa

Air Supply Group will sign with the Egyptian Chemical Industries (KIMA) on Tuesday, Jan. 11, a gas Off Take agreement where Air Supply will build, own and operate ( BOO) Air Separation Units ( ASUs) producing industrial and medical gases at KIMA Company’s premises in Aswan.

In this regard, Chairman of Air Supply Group Ahmed Mostafa said the expected investments in the projects amount to EGP 250 million, pointing out this deal is the first of its type between the private sector and KIMA.

Mostafa noted that his company would supply KIMA with industrial gases for the production of ammonium nitrate and other petrochemical products.

On the other hand, the project will serve all upper Egypt’s Industrial and Healthcare sectors and will be an addition to the Country’s global medical oxygen production, and strategic stock, to cover COVID patients' needs nationwide.

Mostafa underlined that Prime Minister Mostafa Madbouli, Minister of Public Business Sector Hesham Tawfik, Environment Minister Yasmin Fouad, Petroleum Minister Tarek El Molla, Trade and Industry Minister Nevin Gamea, Acting Health Minister Khaled Abdel Ghaffar, and Chairman of the Chemical Industries Holding Company Emad El-Din Mostafa will attend the signing ceremony.

He added that Egypt has recently provided unprecedented support for the private sector in investing in many industrial sectors, especially petrochemicals and fertilizers, and the production of industrial and medical gases.