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Cairo - Mubasher: Misr Chemical Industries, a subsidiary of the Holding Company for Chemical Industries, has opened a new factory at an investment cost of LE 180 million, as part of its development and restructuring plans. The new plant took 24 months to develop under the supervision of German company Oda, the first development of its kind in 21 years, a ministry statement said on Sunday. The new plant has helped raise the production capacity from 170 tons per day to 206 tons per day of soda, in addition to achieving savings in electricity consumption, which in turn reduced the cost of the product. He added that there are requests for the export of chlorine to Africa, but shipping companies refuse to the length of the shipment period, which may be up to 29 days compared to 5 days to ship to Syria. "We need to diversify Egypt 's chemical investments through government treasury bills as the highest return and most secure," said Yasser Al-Najjar, president of the chemical holding company. The company has export markets in Syria, Libya and Lebanon, and chlorine is its main supplier. The Holding Company is followed by 18 companies: Muharram Industrial, Transport and Engineering, Bata, Niazah, Delta Fertilizers, Nasr Fertilizers, Narubin, Sinna Manganese, Max Salts, Nasr Salts, Sejwarat, Egyptian Chemical Industries Kima, Transport, Engineering Plows, Misr Chemical Industries, Rakta, Eastern Tobacco, and National Cement). Egypt 's financial indicators for the fiscal year 2016-2017 showed a loss of LE 20.8 million, compared to a profit of EGP 29.005 million on a year-on-year basis. The company 's financial year begins on July 1 of each year and ends on June 30 of the following year.