The Egyptian Company for Chemical Industries (Kima) reported a net profit of 9.8 million Egyptian pounds ($1.5 million) for the second half of 2003 compared to a net loss of EP1.1 million during the same period in the previous year.
Kima was set up in 1959 to use the surplus power generated by the Aswan Dam and was transferred to a public enterprise company in 1992 as a step towards privatization. More than 51 per cent of the company is owned by the government, represented by the Holding Company for Chemical Industries.
Kima’s main export markets are Turkey, Greece, Jordan, Morocco, Tunisia, the United Arab Emirates (UAE), Japan, Syria and Saudi Arabia. — (menareport.com)
© 2004 Mena Report (www.menareport.com)
