President El Sisi Inaugurates Expansion of Misr Fertilizer Production Company 
President El Sisi Inaugurates Expansion of Misr Fertilizer Production Company (Archive)
By

President Abdel Fattah El Sisi inaugurated in Damietta the expansion of the Misr Fertilizer Production Company (MOPCO), which produces 1% of world production of urea fertilizer. The expansion will give new impetus to the fertilizer industry in Egypt, increase exports, create more jobs and diversify income sources. The expansion will lead to an annual production of 1.3 million tons of urea fertilizers to reach a total production of 2 million tons per year. The cost of the company’s expansion amounts to 1.9 billion dollars.

Minister of Petroleum Tarek El Molla gave a detailed account to the President on the ministry’s strategy to position Egypt as a hub for energy in the Middle East and increase the exploration of oil and gas, while relying more on natural gas.

President El Sisi pointed out the strong correlation between realizing stability and continuing exploration activities of energy sources, noting that halting these activities for three years since 2011 has burdened the state budget by 60 billion Egyptian pounds.

The President was also briefed on MOPCO’s social participation projects, worth 85 million Egyptian pounds, that include, inter alia, a waste recycling plant. Minister of Environment Khaled Fahmy outlined the environmental aspects of the project that treats solid, liquid and gas waste, without causing any environmental harm, nor exposing the life of the Egyptians to any danger.

In his remarks, President El Sisi extended his condolences to the families of the EgyptAir plane victims and asked those in attendance to observe a moment of silence. The President expressed his appreciation for the kings and heads of state and government who offered their condolences as well as countries that participated in the search operations.

The President lauded relevant authorities for handling the incident, noting that search and rescue units from the navy and air forces have scanned 290 km of Alexandria coasts to recover debris and remains, in addition to forming a crisis management unit headed by the prime minister.

President El Sisi noted that statements are issued according to the updated available information and directed the government to update the media with the latest news. He called on all media not to jump to conclusions, adding that all assumptions are still open with regards to the cause of the incident until the prosecutor general investigations in coordination with the French government are over.The President affirmed that the results of the investigations will be announced with full transparency, however this could take time before causes are established.

The preceding was a press statement and does not reflect the editorial policy of The Cairo Post.

Recommend to friends

Leave a comment