Air Supply Group announced on Tuesday that it will sign an offtake agreement with the Egyptian Chemical Industries (Kima) on 11 January, in which the former will build, own, and operate (BOO) Air Separation Units (ASUs) producing industrial and medical gases at Kima’s premises in Aswan.
Chairperson of Air Supply Group, Ahmed Mostafa, said the expected investments of the projects amount to EGP 250m, pointing out this deal is the first of its kind between the private sector and Kima.
Mostafa noted that his company would supply Kima with industrial gas for the production of ammonium nitrate and other petrochemical products. Moreover, the project will serve all Upper Egypt’s industrial and healthcare sectors, as it will boost the country’s medical oxygen production.
Prime Minister Mostafa Madbouly, Minister of Public Enterprises 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 Chairperson of the Chemical Industries Holding Company Emad El-Din Mostafa will attend the signing ceremony.
Mostafa affirmed that Egypt has recently provided unprecedented support for the private sector in many industrial sectors, especially petrochemicals, fertilizers, and industrial and medical gases.
