Egyptian Chemical Industries Company (KIMA) has approved its budget and plans to establish a gas liquefaction unit and solar power plants on the roofs of its administrative buildings.

According to the company's disclosure to the Egyptian Exchange on Tuesday, the board of directors approved the draft budget for the 2026-2027 fiscal year, targeting a net profit of EGP 1.505 billion.

In a move to enhance operational efficiency and environmental sustainability, the company announced the signing of a strategic contract with a private sector company to utilize surplus carbon dioxide produced by its ammonia plant.

This includes the construction of a gas liquefaction unit on the company's land for industrial purposes, creating an additional source of revenue and improving operating profit margins.

At the same time, KIMA signed a contract with a private sector company to install solar power plants on the roofs of its administrative buildings to reduce electricity costs and decrease reliance on the national grid, in line with carbon footprint reduction standards.

In another matter, the council approved in principle the sale of 47 residential units in the KIMA employee housing project through a limited public auction.

The auction targets employees who have not previously received housing units, as well as pensioners and the families of deceased residents of the residential complex, in exchange for the handover of administrative housing, subject to an approved valuation and approval by an extraordinary general assembly.