for who care reveals the features of the friendly settlement agreement between “Kima” and the Italian “Technomont”.

 


 

 

Informed sources revealed to us the most important features of the friendly settlement agreement between the two Egyptian chemical industries (Kima) and the Italian Technomont regarding the dispute over the “Kima 2” project implemented by the latter for the production of ammonia and urea using natural gas, with investments estimated at 12

“Kima” confirmed, in a disclosure to the stock exchange yesterday, Sunday, that it has not yet obtained official approvals regarding the amicable settlement agreement with Technomont Company. The dispute between the two parties extended to more than two years when the Italian company demanded compensation for its damages from the liberalization of the exchange rate in 2016, which raised the operational cost of the “Kima 2” project. Payment for the delay in implementing the terms of some of the contracts, which led to the appeal of the Investment Dispute Settlement Committee in the Council of Ministers, which recently approved the settlement agreement. To obtain compensation for its damages from the liberalization of the exchange rate, in addition to “Kima” relinquishing any claims for the delay in work on the “Kima 2” project, which started its operation and

The sources indicated that the Italian company had demanded approximately 76 million dollars in return for the high operating cost and about 450 million pounds as compensation for the exchange rate differences.

She expected “Kima” to obtain all the details of the official settlement from the Council of Ministers within a few weeks, provided that it will be disclosed to the Stock Exchange at the time. “Kima” established it according to market prices subject to competition, supply, and demand.

She added that this scenario includes “Technomont” bearing all operating and maintenance expenses for the second year of operation, with incentives representing a share of the project’s profits if production exceeds certain limits.

The sources ruled out that “Kima” would distribute profits for the fiscal year ending 2022-2021 because it incurred staged losses, in addition to the need to provide liquidity to enter into any future investment projects, including the “Unit of The new nitric acid.”

The sources estimated the cost of a unit of nitric acid production at about 5 billion pounds at current market prices.

Mentions “Kima” achieved a net profit of 651.48 million pounds during the fiscal year 2022-2021, compared to losses amounting to 1.42 billion in the same fiscal year, supported by the growth of sales revenues.

Popular posts from this blog

alasla state student Loan - Articles links.

Image
  Description of the Situation . The average level of Indebtedness: What Is the Real Cost of Education? What Average Time to Get Out Of Debt and Average Length of Student Loan . Where to Start? Will You Have A Good Job Allowing You To Pay Back Your Loan? What Is the Market? . Where to Find Information about the Best Careers? Types of Loans Available in Alaska . Federal Student Loan. Alaska State Student Loan. Out-of-State for Alaska's Students. Alaska State Private Loan. Importance of Credit Score. With Or Without a Cosigner. Grant and Tuition. Free Solutions in Alaska. Types of Issues and How to Solve Them?. Planning ALL your expenses BEFORE signing for a loan. Where and When Should I Fill The Forms?. What about Taxes and Loan Interests Deductible?. What's happened if I Decided To Quit?. Conclusion.
Read more

ASL - What Is the Market?

  What Is the Market?  Americans who want to succeed in the job market should have at least a bachelor's degree. However, as a result, it is becoming more important, and college has also been getting more expensive. And herein lies the importance of student loans. The foundation of personal financial well-being is the ability to earn a living and set aside a regular percentage of that income for future needs, goals, and aspirations. Therefore, a career planning process that helps students choose and secure the most excellent occupations is the best method to guarantee long-term financial well-being and personal satisfaction.
Read more

ASL - Where to Find Information about the Best Careers?

  Where to Find Information about the Best Careers? Obtaining career-related information from friends and family may be pretty beneficial. Even while they might not always be able to provide the necessary information, they might know other professionals and be able to connect the job seeker with them. Similarly, the U.S. Department of Labor's  Bureau of Labor Statistics  provides essential data on employment and pay by occupation, including career information, employment levels, forecasts, and several forms of earnings statistics.
Read more