China’s Xingfa to invest $2 bln in Egyptian phosphate project – ministry

China’s Xingfa Chemicals Group, one of the world’s largest phosphorus chemical producers, plans to invest $2 billion in Egypt to develop an integrated phosphate project, establishing its largest industrial hub outside China, Egypt’s Petroleum Minister Karim Badawy said Thursday.

The project, to be executed in three phases in the Golden Triangle zone, will cover phosphate exploration, extraction, and the production of high-value downstream products. The project aligns with Egypt’s strategy to expand value-added industries and attract technologically advanced foreign investors.

“Egypt’s mining sector offers competitive advantages, and we are ready to support the project through technical and logistical facilitation,” Badawy said during a meeting with Xingfa Director Ya Li Cheng and senior company executives.

Xingfa said the project represents a strategic step to transfer advanced technical expertise to Egypt and localise critical industries in the country. The companies also agreed to continue technical coordination and information exchange to advance the project.

Badawy invited the delegation to attend the next Egypt Mining Forum in September, while Xingfa extended an invitation for the minister to visit its operations in China.

The meeting was attended by officials from the Golden Triangle Economic Zone and the Mineral Resources and Mining Industries Authority (MRMIA).

Attribution: Amwal Al Ghad English