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Egypt secures $525 million investment for phosphate fertilizer complex in Sokhna Industrial Zone
via Egypt Today1 min read
The General Authority for the Suez Canal Economic Zone SCZONE and Indorama Egypt Fertilizers signed an agreement for a new phosphate fertilizer plant in the Sokhna Industrial Zone. The first phase of the project involves investments totaling $525 million. This integrated industrial complex for fertilizers and basic chemicals will cover 522,000 square meters and is projected to have an annual production capacity of up to 600,000 tons initially. The facility will produce phosphate fertilizers and related products, with about 80 percent of the total output intended for export. Prime Minister Mostafa Madbouly stated that this project is a strategic addition to Egypt鈥檚 industrial base, especially in the fertilizer and mineral resources sectors. Walid Gamal El-Din, Chairman of SCZONE, highlighted that the agreement demonstrates the zone鈥檚 capability to attract high-value industrial investments that utilize advanced technology and significant capital. He also noted that the project will feature fully integrated production operations, from intermediate inputs to final products, aiming to deepen local manufacturing and strengthen value chains in mineral-based chemical industries.
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This summary was AI-generated from a story originally published by Egypt Today.
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