The meeting featured a comprehensive presentation on the Ain Sokhna Phosphate Industries Complex project. This initiative stems from a recent Memorandum of Understanding (MoU) between the Egyptian General Authority for Mineral Resources and Mining and Elsewedy Cap Investments. The MoU aims to establish a strategic partnership for exploring and exploiting phosphate ore in the Nile Valley's Wadi El-Nile region (El Sibaia mines) and maximizing its economic benefit by increasing ore concentration for use in advanced downstream industries.
Minister Badawi emphasized that the project receives full
support from President Abdel Fattah El-Sisi and the government, aimed at
developing the mining sector and enhancing its contribution to the national
economy. He noted that transforming the Mineral Resources Authority into an
economic entity has facilitated effective partnerships and secured necessary
funding for ambitious projects, in addition to attracting national capital for
investment in this vital sector.
He added that the recently concluded Egypt International
Mining Forum 2025 saw wide participation from local and international mining
companies, reflecting investor confidence in the sector's future.
The Minister stressed the importance of regular meetings
between the working teams from both sides to monitor project developments and
ensure its implementation according to schedule. He reiterated the ministry's
commitment to fully support value-added projects that maximize economic returns
from mineral resources.
For his part, Elsewedy expressed pride in the partnership
with the Mineral Resources Authority, explaining that the project represents a
significant leap forward in developing Egypt's phosphate industries. This will
be achieved through the production of phosphoric acid and phosphate fertilizers
to meet local market needs and boost export opportunities.
He confirmed that work is currently underway on technical
and legal aspects, alongside site visits to the project location, in
preparation for launching the work plan as soon as possible, with a focus on
implementing global best practices in phosphate industries.
The meeting was attended by Yasser Ramadan, Chairman of the Egyptian General Authority for Mineral Resources and Mining, and Dr. Mohamed El Bagoury, Supervisor of the Central Department for Legal Affairs at the ministry.