Air Supply to invest EGP 250 mln in Egypt's KIMA for industrial gas production: Statement

Doaa A.Moneim , Tuesday 4 Jan 2022

The Egypt-based Air Supply Group, a major gas service provider, is set to sign a gas Off Take agreement on 11 January with state-owned Egyptian Chemical Industries KIMA for industrial gas production, the group said in a statement on Tuesday.

File Photo: One of KIMA chemical factories in Upper Egypt. Ahram

Under the agreement, Air Supply will build, own and operate (BOO) Air Separation Units (ASUs) producing industrial and medical gases at the premises of KIMA in Aswan. 

Chairman of Air Supply Group Ahmed Mostafa said the expected investments in the project worth EGP 250 million, pointing out this deal is the first of its kind between the private sector and KIMA.

Under the agreement, Air Supply Group would supply KIMA with industrial gases for the production of ammonium nitrate and other petrochemical products.

Meanwhile, the project is expected to serve all Upper Egypt’s industrial and healthcare sectors, benefiting the country’s global medical oxygen production, and strategic stock, to meet the needs of patients infected with COVID-19 nationwide, Mostafa said.

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.

Egypt's 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 are expected to attend the signing ceremony.

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