Egypt Presses El-Sewedy to Speed $1 Billion Phosphate Complex
Updated
Updated · billionaires.africa · Aug 17
Egypt Presses El-Sewedy to Speed $1 Billion Phosphate Complex
2 articles · Updated · billionaires.africa · Aug 17
Summary
Karim Badawi told Ahmed Elsewedy to accelerate implementation of the $1 billion phosphate fertiliser complex in the Suez Canal Economic Zone, ordering officials to clear procedures faster, solve obstacles and tighten coordination.
The project, backed by Egypt's mining authority, WadiCo, El-Sewedy and China's CJN, is meant to shift Egypt from exporting raw phosphate rock toward higher-value local processing and exports.
Phase one will produce 300,000 tonnes a year each of phosphoric acid, DAP and TSP fertilisers; later stages from 2029 to 2034 target specialised phosphate chemicals and battery-component materials.
The push follows a July shareholders agreement and fits Egypt's broader mining-sector overhaul, which officials say is attracting investors and lifting returns from the country's large phosphate reserves.