Petroleum and Mineral Resources Minister Karim Badawi and New Valley Governor Mohamed El-Zamlout oversaw the signing ceremony at the Ministry's headquarters in the New Administrative Capital.
The project involves a framework agreement between
shareholders and a general contractor agreement with a Chinese consortium of
CSCEC and ECEC. It seeks to boost the value of Egyptian phosphate ore by
processing it into high-yield industrial products rather than exporting it raw.
The framework agreement was signed by top executives
including Hany Dahy of Abu Qir Fertilizers Company, Mohamed Shoaib of East Gas
Company, Yasser Ramadan of the Mineral Resources Authority, Mohamed Abdel Azim
of Phosphate Misr Company and Abu Tartour Phosphoric Acid Production Company,
Walid Lotfy of Petrojet, and Wael Lotfy of Enppi.
The general contractor agreement was inked by Mohamed Abdel
Azim for the Egyptian side and Zhang Weichai, Chairman of CSCEC China in Egypt,
and Zihao Shaoping representing ECEC.
The complex, one of Egypt's largest industrial undertakings
in the mining sector, will initially produce 250,000 tons annually of
high-concentration commercial phosphoric acid (P₂O₅ 100%). It will utilize
phosphate ores from the Abu Tartour mines, employing advanced global
technologies under the Abu Tartour Phosphoric Acid Company.
Minister Badawi emphasized that the project aligns with the
ministry's strategy to transform the mining sector and increase its
contribution to the national economy. He hailed it as a "historic
transition" from raw material production to integrated, high-value mining
industries, opening "new avenues for Egypt."
He thanked all stakeholders for their efforts in swiftly
launching the project and adhering to timelines, noting the government's strong
interest in the initiative.
New Valley Governor El-Zamlout highlighted the project's
importance for his governorate, stating it embodies the state's strategy to develop
and populate the desert hinterland, particularly the New Valley, which has long
been overlooked for heavy industrial development.
He added that the complex would create hundreds of direct
and indirect jobs for local residents and boost the region's appeal for
industrial investment, fostering integrated urban and economic growth.
Mohamed Abdel Azim, Chairman of Phosphate Misr Company and
Abu Tartour Phosphoric Acid Production Company, described the project as a
first step in the industrial development of New Valley, envisioning it as a
"nucleus" for future projects leveraging high-quality phosphoric acid
and the vast phosphate reserves in the Abu Tartour area.
The project is situated in the Abu Tartour plateau within the New Valley Governorate, Egypt's largest by area. This location aligns with the state's policy to steer industrial development towards promising regions, optimize mineral resource utilization, drive investment in southern Egypt, and create sustainable employment opportunities.