Latest news with #phosphoricacid
Zawya
6 hours ago
- Business
- Zawya
Egypt signs final contracts for $658mln phosphoric acid complex at Abu Tartur
Arab Finance: Minister of Petroleum and Mineral Resources Karim Badawi and Governor of New Valley Mohamed Al-Zamlout witnessed the signing of final contracts to begin implementation of the industrial complex for phosphoric acid production at Abu Tartur Plateau, according to a statement. The signing of the agreements took place at the ministry's headquarters in the New Administrative Capital (NAC). It aligns with the government's strategy to maximize the economic return from Egypt's mineral wealth. The Chinese consortium CSCEC Egypt will build the industrial complex. The complex is set to be one of the largest industrial projects aimed at enhancing the added value of Egyptian mineral resources, specifically phosphate ore. The project will see a total investment of $658 million. It supports the state's policy of directing industrial development toward promising regions, ensuring optimal utilization of mineral resources, accelerating investment in southern Egypt, and securing real and sustainable job opportunities for local residents. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Asharq Al-Awsat
a day ago
- Business
- Asharq Al-Awsat
Egyptian Firms Sign Final Contracts with Chinese Consortium to Build Chemical Plant
Several Egyptian companies signed on Sunday final contracts with a Chinese consortium comprising China State Engineering Corp and East China Engineering Science and Technology Company to build a phosphoric acid plant in Egypt's New Valley area, Reuters reported. The plant, which has an investment value of $658 million, will have the capacity to produce 250,000 tons of concentrated phosphoric acid in the first phase of the project, Egypt's petroleum ministry said in a statement. Egyptian participants in the project include leading fertilizer producer, Abu Qir Fertilizers, state-owned Misr Phosphate and others.
Zawya
4 days ago
- Business
- Zawya
Petrojet, ENPPI approve participation in Egypt's New Valley phosphoric acid plant
Egypt - The General Assemblies of Petrojet and Engineering for the Petroleum and Process Industries (ENPPI) have approved participation in financing and implementing a phosphoric acid production plant on the Abu Tartur Plateau in Egypt's New Valley, as per a statement. The two assemblies also approved the signing of the shareholders' framework agreement and all related contracts to begin project execution. The plant's first phase will have an annual production capacity of 250,000 tons, with Petrojet and ENPPI among the participating shareholders. Minister of Petroleum and Mineral Resources Karim Badawi highlighted the strategic value of the project. Calling it a national initiative, the minister said that it aims to maximize the added value of Egypt's phosphate resources by converting raw phosphate into a finished product. He emphasized that the project supports Egypt's goal of becoming a regional hub for mining industries. This project is also aligned with state priorities to raise the mining sector's contribution to gross national product (GNP) from less than 1% to between 5% and 6% in the near term. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
