Chemical Holding: Funding affiliated companies with EGP 16.8 billion to develop factories

The financial data and indicators of the Holding Company for Chemical Industries, one of the companies of the Ministry of Public Business Sector, revealed that the total of what the holding companies’ affiliated companies obtained in the form of long-term loans until May 30, 2021 amounted to about 16.8 billion pounds; With the aim of developing, modernizing and operating companies, in addition to financing public capital for them.

The indicators indicated that the Delta fertilizer factories Talkha got 4.4 billion pounds until the end of the fiscal year 2021, which is the highest factory that obtained a loan from the Holding Company, while the Nasr Fertilizers factories got 2.2 billion pounds, followed by the chemical industries factories to get 735 million pounds.

According to the financial statements, the Holding Company for Chemical Industries lent Rakta Paper Factories about 561 million pounds, and the Muharram presses got 384 million pounds, while Al-Nasr Salines got 593 million pounds, and the company of springs and transportation missions got 6 million pounds, while transportation and engineering got 1.7 billion pounds, victory for rubber Narobin received 256 million pounds, victory for electrical appliances Niaza received 299 million pounds, while the Egyptian for pipes Sigart got one billion pounds.

Indicators showed that many companies did not obtain financing from the Holding, as they were able, by their own efforts, to modernize their factories and finance public capital.

The accountant, Imad Al-Din Mustafa, had mentioned in a previous statement to “Youm Al-Sabaa” that the loans granted to companies “good loans” are repaid as they are, especially that the financial portfolio of companies is one.

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