Egyptian fertilizer company Evergrow, Austria’s Borealis, and Belgium’s Ecophos are joining to establish an industrial complex for phosphate and potash fertiliser production in Upper Egypt.
The complex will be with investments of up to 9.5 billion Egyptian pounds ($538.2 million), said Evergrow’s chairman Mohamed El-Kheshen on Wednesday.
The partners will start building the complex in 2020 after completing the feasibility studies by early 2018, El-Kheshen further told Amwal Al Ghad.
It will be built on a space of 500,000 metres in one of the Upper Egypt cities; Beni Suef, Menya, and Aswan or in one of the Golden Triangle areas.
The complex is expected to start production in 2022, set to add 5,000 direct and indirect jobs, he added.