12. Abu Qir Fertilizers and Chemical Industries Company (AFC)

Sector: Industrials
Chairman and CEO: Abed Ezz El Regal
Market Value: $2 billion
Sales: $528 million
Profits: $293 million
Assets: $723 million

AFC produces and markets nitrogen fertilizers, chemical products and other related materials in Egypt and abroad. As of the fiscal year ended June 2022, the company’s total production reached 2.2 million tons and it exported to 40 clients across 24 markets. It owns three plants that produce ammonia, urea, ammonium nitrate, and liquid fertiliser. ADQ’s Alpha Oryx Limited Company is the major shareholder with 21.5%, followed by the Saudi Egyptian Investment Company with 19.8% and the Egyptian General Petroleum Corporation with 19.1%. In 2022, the company announced a $1.2 billion project with a production capacity of 1,200 tons per day of ammonia, 1,830 tons per day of sulfuric acid, and 2,400 tons per day of granular ammonium nitrate.