Abu Qir Fertilizers Company, recently held its General Assembly at its Alexandria headquarters. Attended by Engineer Karim Badawi, Minister of Petroleum and Mineral Resources, the gathering highlighted the company’s exceptional performance and future strategies aimed at boosting production, integrating modern technology, and enhancing sustainability.
Focus on Production and Emission Reduction
Engineer Karim Badawi emphasized the importance of Abu Qir Fertilizers’ strategic direction towards maximizing production capabilities while reducing carbon emissions. The company’s professional institutional work strategy has led to significant operational efficiencies, bolstering productivity and profitability. This, in turn, supports the environmental dimension of green production, ensuring long-term sustainability and opening broader horizons for exports. As a critical player in the Egyptian fertilizer market, Abu Qir Fertilizers is instrumental in achieving food security and expanding its footprint in international markets.
Technological Advancement and Safety Commitment
During his visit, Minister Badawi praised the company’s efforts in incorporating state-of-the-art technology to enhance operational efficiency and sustainability. The use of digital systems and advanced technologies in the main control room, as explained by Eng. Abed Ezz El Regal, Chairman of Abu Qir Fertilizers, underscores the company’s commitment to optimal and safe economic operation. The Minister also highlighted the importance of maintaining a safe work environment and the significant role of employee diversity in the company’s success, especially the empowerment of women in operations.
Financial Performance and Market Expansion
The fiscal year 2023/2024 witnessed impressive financial outcomes for Abu Qir Fertilizers, with total revenues reaching approximately EGP 28.87 billion and a net profit of EGP 13.48 billion. Despite the challenges, the company’s strategic focus on sustaining maximum production capacity, renewing facilities, and exploring new markets has paid off. The company’s market value on the Egyptian Stock Exchange stands at about EGP 77.67 billion, ranking second in the basic resources sector.
Green Initiatives and Future Projects
Abu Qir Fertilizers is a pioneer in emissions reduction, boasting over 3 million carbon certificates and achieving significant voluntary carbon emission reductions annually. The company’s future investment projects reflect its commitment to global sustainability trends. Notably, the North Abu Qir Agricultural Nutrients Company project that aims to produce green ammonia using renewable energy, aligning with global green transformation efforts.
Recognition and Awards
The company’s dedication to excellence has earned it accolades, including the award for the best-performing company on the Egyptian Stock Exchange and a spot in Forbes’ top 50 Egyptian companies for 2024. These recognitions affirm the company’s efficient business model and adherence to high governance and transparency standards.
Abu Qir Fertilizers continues to set benchmarks in the fertilizer industry through its innovative approach, commitment to sustainability, and strategic market expansion. The company’s focus on integrating cutting-edge technology and maintaining a safe and diverse work environment positions it for continued success and significant contributions to Egypt’s agricultural and economic landscape.