Arab Finance: Engineer Karim Badawi, Minister of Petroleum and Mineral Resources, and Major General Dr. Mohamed Zamlout, Governor of the New Valley, witnessed the signing of the final agreements to implement an industrial complex for the production of phosphoric acid in the Abu Tartour Plateau, at the Ministry’s headquarters in the administrative capital.
The signing includes the contractor contract with the coalition of the Chinese CSCEC and ECEC companies, in addition to the framework agreement between the shareholders, namely: Abu Qir Fertilizers, East Gas, Mineral Resources Authority, Egypt phosphate, Petrojet, and Enppi.
The project is one of the largest value -added added projects for phosphate crude in Egypt, with a total investment of $ 658 million. In its first phase, it aims to produce 250,000 tons annually of high -focused phosphoric acid, using the raw materials of Abu Tatour, according to the latest global technologies.
The minister stressed that the project represents a qualitative shift for the mining sector, and contributes to increasing its contribution to the national product by transforming the export of raw materials to the establishment of integrated and integrated industries. He also pointed out that the project receives great support and attention from the political leadership and the government.
For his part, the Governor of the New Valley explained that the project enhances the reconstruction and development of the desert back, and represents a strong boost to create new job opportunities and achieve sustainable economic development in the governorate.
Engineer Mohamed Abdel -Azim, President of the Egypt Phosphate Company, confirmed that the project represents the beginning of a series of future industrial projects in the New Valley, taking advantage of the huge reserves of phosphate ore in the region.
The project is held within the state's strategy for the development of southern Egypt, and directing investments towards promising areas, in a way that contributes to maximizing the benefit of mining wealth and creating job opportunities for the people of the province.
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