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Public Works Minister unveils plan to eliminate Delta Fertilizers’ EGP 712mn losses

Saturday 29 September 2018 02:07 PM

Minister of Public Works Sector, Hisham Tawfiq
Minister of Public Works Sector, Hisham Tawfiq

By Ahmed Ashour
Minister of Public Works Sector, Hisham Tawfiq assigned the Delta Fertilizers Company, a subsidiary of the Holding Company for Chemical Industries, to prepare a plan to eliminate 712 million losses over a period of one and a half to two years.

Tawfiq added that he will be invited next week to choose a global consultant to prepare a study of rehabilitation and development of Talkha factory, pointing out that losses is not allowed to continue in company operating in the field of petrochemicals in light profits recorded by  companies operating in the same field.

Delta Fertilizer Chairman Nabil Mekkawy asked for some 800 million pounds this year to complete the development plan.

But Tawfiq stated that the development value will be determined after the consultant study, pointing out that the ministry will provide all the necessary funds for the development process.