Evergrow negotiates for new $500mln plant in Aswan

Egyptian fertilizer company Evergrow is in talks with Aswan governorate, seeking an allocation of 500,000 metre square-land to build a new plant in the city, chairman Mohamed El-Kheshen said on Monday.

Evergrow will set up a plant for the production of phosphate fertilizers in coordination with the Egyptian Industrial Development Authority, El-Kheshen told Amwal Al Ghad on the side lines of Sahara Expo 2019.

The new plant is with an initial investment of $500 million, in cooperation with a Belgian company, he added.

“We have completed the technical studies on the new project. The plant will be with a production capacity of one million tonnes of potassium sulfate, concentrated sulfuric acid, and NPK,” El-Kheshen said.

Evergrow will be contributing 55 percent of the total project’s investments, while the Belgian partner will provide 45 percent, he said adding that the plant would take three years to start its operation.