Australian consortium to launch $875 mln phosphoric acid production plant in Egypt

An Australian consortium comprised the Wesson Group, and WesTech Group consortium will establish a company named Osiris to implement $875 million phosphoric acid production plant in Safaga, Egypt.

The project which will be located in the city on the Red Sea coast, with a total annual production capacity of 692,000 tons per year, as it will be executed in two phases, according to a government official said on Monday.

The first phase will cost about $312 million investments to produce 346,000 tons of phosphoric acid, while the second phase will be implemented with investments of up to $563 million.