Phosphate Misr To Establish Chemical Complex At $1.7 bln

Phosphate Misr Company, jointly with Abu Qir Fertilizers Company, is seeking to construct a chemical industrial complex to produce Phosphate fertilizers at $ 1.7 billion total investments.

Eng. Khaled Al-Ghazaly, Chairman of Phosphate Misr, has confirmed the significance of utilizing Egypt’s mineral wealth but on condition that manufacturing these materials before exporting in order to boost their value as well as maximizing the use of their outcomes, which can contribute to treating the current imbalance in Egypt’s trade of balance.

Al-Ghazaly has pointed out that the Egyptian Ministry of Industry will provide all the support and incentives in order to encourage whether the local of the global companies to invest in such a promising field.