Egypt and China Join Forces to Build $658M Phosphoric Acid Plant
Egyptian companies and a Chinese consortium have signed contracts to build a $658 million phosphoric acid plant in Egypt's New Valley. The plant will produce 250,000 tons of concentrated phosphoric acid in its first phase. Key participants include Abu Qir Fertilizers and Misr Phosphate.
- Country:
- Egypt
On Sunday, several Egyptian companies finalized contracts with a Chinese consortium to construct a phosphoric acid plant in Egypt's New Valley. The consortium includes China State Engineering Corp and East China Engineering Science and Technology Company.
According to Egypt's petroleum ministry, the plant will require a hefty investment of $658 million. Upon the completion of its first phase, it is expected to produce 250,000 tons of concentrated phosphoric acid.
Key Egyptian participants in this ambitious project include leading fertilizer producer Abu Qir Fertilizers and the state-owned Misr Phosphate, among others.
(With inputs from agencies.)
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