Valmore Holding, a leading diversified investment holding company, has reported that its subsidiary, Alexandria Fertilizers Company (AlexFert), continues its operational and production activities using the currently available natural gas supply quantities, the company said in a disclosure to the Egyptian Exchange (EGX).

The statement comes in response to circulating news regarding a 20% reduction in natural gas supplies to fertilizer plants.

The Egyptian Chemical Industries (KIMA)’s gas supplies were reduced by 20%, while its urea plant continues operating normally. Abu Qir Fertilizers said it had reorganized its operations to maximize the utilization of available gas supplies, while MOPCO continues operating in line with the quantities of gas available.

The government has previously reduced natural gas supplies to energy-intensive industries as part of a broader effort to curb imports as a result of the US-Iran conflict.