Maire Tecnimont to take on Kima’s nitric acid project: EGX-listed, state-controlled Egyptian Chemical Industries (Kima) approved an offer from Italian contractor Maire Tecnimont to take the reins on its nitric acid and ammonium nitrate project, the company said in an EGX disclosure. The project will cost some USD 297 mn, down from the USD 323 mn Maire Tecnimont originally requested, per the disclosure. It will produce some 600 tons of nitric acid and 665 tons of ammonium nitrate a day once operational, with construction expected to take two years. The two companies late last year settled a dispute over former projects.Kima shares soared on the news: Kima’s stock price rose over 10% during yesterday’s trading to close at EGP 8.68, prompting the EGX to temporarily suspend trading on its shares. (ICE IL CAIRO)

Fonte notizia: Enterprise news;etter 07 giugno 2023