Arab Finance: Four Egyptian and Arab companies are competing to revamp and develop the Delta Company for Fertilizers and Chemical Industries with an initial sum of up to $450 million after it ceased operations four years ago, three government officials told Asharq Business.

The companies are Abu Qir Fertilizers and Chemicals Industries Company, Misr Fertilizers Production Company (MOPCO), the Egyptian Petrochemicals Holding Company (ECHEM), and a company affiliated with the Saudi Public Investment Fund (PIF).

The final value of the project will be determined once the evaluation process is done, one source said.

He noted that the rehabilitation process would take place via a capital increase at a fair value, adding that the contract would be awarded to one of the companies in the first quarter of 2025.

Baker Tilly is finalizing the fair value study of the upgrade and development project for Delta for Fertilizers factories within two weeks.

However, Al-Ahly Pharos Investment Banking was appointed to promote the project.

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