Egypt Kuwait Holding, a prominent investment holding company under the leadership of Egyptian businessman Sherif El-Zayat, has recently inaugurated state-of-the-art factories in Egypt valued at EGP1.40 billion ($45.2 million).
As part of its ambitious expansion strategy, the company aims to solidify its position as a leading and rapidly growing investment entity in the MENA region.
The newly established factories, operated by the fully-owned subsidiary Sprea Misr, will be dedicated to the production of sulfuric acid. This move is expected to bolster the capacity of existing petrochemical factories and enhance overall production lines.
In an enthusiastic announcement, El-Zayat, the managing director of Egypt Kuwait Holding, revealed that the upcoming sulfuric acid factory is projected to achieve an impressive annual production capacity of 165,000 tonnes.
Zayat further emphasized that approximately 80 percent of the sulfuric acid production will be allocated to the Alexandria Fertilizers Company, in which Egypt Kuwait Holding holds a substantial 69 percent ownership stake.
Egypt Kuwait Holding traces its origins back to 1997, when it was founded by a consortium of prominent Kuwaiti and Egyptian businessmen.
Over the years, the company has emerged as one of the most rapidly expanding direct investment enterprises in the Middle East and Africa.
With a diversified portfolio of investments spanning five key sectors, including fertilizers and petrochemicals, upstream gas, gas distribution, power generation, and insurance, Egypt Kuwait Holding remains one of the leading companies in Egypt.
Under the leadership of El-Zayat, a respected Egyptian businessman with a 4.26-percent stake in the company, Egypt Kuwait Holding has witnessed remarkable revenue growth and margin expansion across its extensive investment portfolio.
The financial reports for the first nine months of 2022 reflect the company’s impressive performance. Net profits during this period surged to $312.09 million, a substantial increase from $173.09 million reported during the same period in 2021.
