The agreement was signed by Dr. Amjad Kamel, Chairman of
Alamein Silicon Products Company, with a consortium of banks including Qatar
National Bank Egypt (QNB Egypt), Commercial International Bank (CIB), and
Banque du Caire. The National Bank of Egypt serves as the project’s financial
advisor.
Following the signing, the minister highlighted that the
project represents a major investment in localizing a high value-added industry,
generating economic returns for the state and helping reduce the import bill.
He added that the ministry aims in the coming year to strengthen financing
measures for value-added projects and the petrochemical sector, supporting
faster implementation and maximizing economic impact.
The project aims to establish an industrial complex for the
production of metallic silicon and its derivatives, maximizing the added value
of Egypt’s ultra-pure quartz mineral resources instead of exporting them as raw
materials. It also strengthens downstream industries in the mining sector and
establishes a strategic industry used in multiple advanced sectors.
The project has received the “Golden License” from the
Cabinet, granting unified approvals for construction, operation, and permits to
accelerate implementation. It consists of four production phases, starting with
the first phase targeting an annual output of 45,000 tons of metallic silicon,
with investments of $200 million. This phase will create 300 direct jobs and
approximately 3,000 indirect jobs across supply chains, logistics, and
supporting industries.
Subsequent phases will focus on producing silicon
derivatives, including the establishment of a polysilicon plant with an annual
capacity of 25,000 tons for electronics and solar cell industries, a phase for
intermediate silicones, and a phase for complementary industries and final
products such as silicone rubber and silicone oil, positioning Egypt as a hub
for silicon industries in the Middle East and Africa.
The signing was attended by Engineer Ibrahim Mekki, Chairman
of the Egyptian Petrochemicals Holding Company, Chemist Alaa El-Din Abdel
Fattah, the newly appointed head of the company effective January 1, and the
company’s vice presidents for financial and economic affairs, operations,
planning and projects, and business development.