Abu Qir Fertilizers and Chemicals Industries Company’s (ABUK) board of directors has approved the estimated planning budget for the fiscal year (FY) 2024/2025, with expected sales of EGP 18.653 billion, as per a disclosure.

It also targets net profits before tax of EGP 7.145 billion and revenues totaling EGP 21.355 billion.

The board also agreed upon commencing the procedures of the partial replacement of natural gas with hydrogen.

Additionally, it approved the installation of new solar power plants in the company with a total capacity of 2.5 megawatts. This step will contribute to cutting electricity consumption from the grid or local generators.

Abu Qir Fertilizers is an Egypt-based company engaged in the agricultural chemicals sector. The company focuses on the production, distribution, and export of fertilizers, chemicals, and related products.

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