Egypt’s Chemicals Industries Holding eyes $1bn revenues from its units in FY20

Egypt’s Chemical Industries Holding Company is targeting 24.3 billion Egyptian pounds ($1 billion) in revenues from its subsidiaries within the financial year 2019/2020.

The company is planning to achieve EGP 2 billion total standalone revenue and EGP 738 million standalone net profit in FY19/20, Ministry of Public Business Sector stated on Saturday.

CIHC’s targeted revenue is 28% year-on-year higher, compared to the FY 17/18, the ministry added.

The state-run company’s chairman confirmed that the EGP 11.6 billion KIMA 2 project in Aswan is ready for inauguration on 30 June.