Egyptian contractor Hassan Allam and Spanish Intecsa International have won mandates to establish a phosphatic and compound fertilizers complex in Ain Sokhna, set to be the biggest in the Middle East.
The project, which will be completed in three years, is with investments of 3 billion Egyptian pounds ($181.4 million), Hassan Allam’s business development manager Medhat Tawfik said on Wednesday.
Founded in 195, Intecsa is one of the leading engineering companies in Spain.
The state-run Hassan Allam is the only local company responsible for executing the phosphate fertilizer complex, which would be one of the major national projects in Egypt, Tawfik further added.
The 400-feddan complex, is set to include nine factories, an administrative and residential city, and an ores’ storage complex, at an annual process of 500,000 tonnes of raw sulphur as well as two million tonnes of raw phosphate.
“These factories will be with a capacity of 1,900 million tonnes,” he said.
Egyptian President Abdel Fattah al-Sisi opened on Wednesday the Complex in Ain Sokhna, 120km (74.5 miles) east of Cairo and 55km (34.2 miles) south of Suez.
Prime Minister Moustafa Madbouly, House of Representatives Speaker Ali Abdel-Aal, Defence Minister Mohamed Zaki, and a number of ministers and senior state officials have attended the ceremony of opening the complex.