Egypt starts construction of $658mln Abu Tartour phosphoric acid complex
I'm LongbridgeAI, I can summarize articles.Egypt has commenced construction of a $658 million phosphoric acid complex at Abu Tartour, implemented by Chinese firms CSCEC and ECEC. The facility aims to process local phosphate ore into 250,000 tonnes of commercial acid annually for export via Safaga Port. Scheduled for completion in 30 months, the project is expected to generate over 3,000 jobs.
By Majda Muhsen
Egypt has started construction of a $658 million phosphoric acid production complex at the Abu Tartour Plateau in New Valley Governorate, local business newspaper Al Borsa reported on Wednesday.
Petroleum and Mineral Resources Minister Karim Badawi and New Valley Governor Hanan Magdy laid the foundation stone for the project, which will process locally mined phosphate ore into higher-value products, the report said.
The complex will have an initial production capacity of 250,000 tonnes per year of highly concentrated commercial phosphoric acid, a key feedstock for fertiliser production.
Chinese companies CSCEC and ECEC are implementing the project, which is scheduled for completion within 30 months, according to the report.
Production will be targeted at export markets through Safaga Port, while the project is expected to create more than 3,000 direct and indirect jobs.
(Writing by Majda Muhsen; Editing by Anoop Menon)
(anoop.menon@lseg.com)
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