Engineer Kareem Badawi, Minister of Petroleum and Mineral Resources, virtually presided over the Ordinary General Assembly of Misr Fertilizer Production Company (MOPCO), chaired by Engineer Ahmed Mahmoud, the company’s Chairman. The assembly was attended by key industry figures, including Engineer Ibrahim Meki, Chairman of the Egyptian Petrochemicals Holding Company (ECHEM), Engineer Yass Mohamed, Chairman of the Egyptian Natural Gas Holding Company (EGAS), and representatives from major shareholders such as the Saudi Egyptian Investment Company, Alpha Oryx Limited, and the Arab Petroleum Investments Corporation (APICORP). Also in attendance were Accountant Ashraf Abdullah, Assistant Minister for Financial and Economic Affairs, and other senior officials.

During the meeting, Engineer Kareem Badawi underscored the critical importance of MOPCO's expansive growth plan, which encompasses several forward-looking projects. Notably, the emissions reduction initiative marks a significant stride towards sustainable production, positioning the company to enhance its competitive edge in European markets. The Minister highlighted the strategic partnership with Norway’s Scatec to produce green ammonia, a venture expected to unlock new global market opportunities. He reiterated the Ministry’s unwavering support for these projects and commended MOPCO's leadership and team for their exceptional contributions.

Engineer Ahmed Mahmoud detailed MOPCO’s achievements, noting that the company currently supplies around 30% of the local market's urea fertilizer needs and 60% of its ammonia requirements. The company met its urea sales target for the first half of 2024, producing 943,000 tons, and exceeded its ammonia sales target by 138%.

Looking ahead, Mahmoud outlined MOPCO’s strategic plan for the next three years, which includes pivotal projects aligned with green economy objectives. These initiatives aim to reduce the company’s carbon footprint, upgrade existing facilities, and introduce new products. The recent completion of a cutting-edge production unit, with an annual capacity of 20,000 tons of AdBlue, marks a significant milestone, with the first shipment of 36 tons already exported to European markets.

The General Assembly also approved the Board of Directors' proposal to distribute cash dividends to shareholders at a rate of EGP 3.75 per share.