Egyptian coal factory shuts down in lead-up to COP27
El-Nasr Company for Coke and Chemicals was liquidated recently, less than a year after another industry and steel company was closed down, as the Egyptian government seeks to abandon coal in its factories and rely more on clean energy.
CAIRO — After 62 years of production, the extraordinary general assembly of the state-owned El-Nasr Company for Coke and Chemicals approved Sept. 5 the dissolution and liquidation of the company, a year after its activities came to a halt in August 2021.
The liquidation move came following reports by the Egyptian Environmental Affairs Agency that the company’s environmental conditions violate the law.
The Egyptian government is currently working on a plan to liquidate and close factories that pollute the environment and reduce emissions in the lead-up to the Conference of the Parties to the United Nations Convention on Climate Change (COP27), which Egypt will host in Sharm el-Sheikh in November.
The decision to close El-Nasr Company for Coke and Chemicals comes less than a year after the liquidation of the Helwan-based Iron and Steel Company, affiliated with the Metallurgical Industries Holding Company, Egypt’s industry giant, as a result of losses and debts amounting to $540 million.
