China’s Asia Potash plans to establish industrial complex for production of phosphate fertilizers in Egypt
Thursday، 09 January 2025 – 11:59 AM
The meeting was attended by Major General Ashraf Attia, the company’s advisor in Egypt, and Mr. Yasser Abbas, Deputy CEO of the Authority.
The company aims to invest $1.6 billion in the first phase to explore and extract 2 million tonnes of phosphate annually, converting it into phosphate fertilizers and exporting 100% of the production to neighboring markets.
The total investment for all phases of the project is expected to range from $7 to $10 billion, with the final production capacity of the project reaching 10 million tonnes of phosphate.
The company plans to establish the industrial complex and extract phosphate in the area extending from the west of Esna city in Luxor Governorate to the city of Al-Sabahia in Aswan Governorate to the south. The first phase is expected to be completed within one and a half years from the start of construction, with exports being carried out via Safaga Port.
Mr. Hossam Heiba confirmed the company’s entitlement to numerous investment incentives, as its investment strategy aligns with Egypt’s sustainable development plans. The company will localise advanced technology in the fields of extraction and manufacturing and plans to create 3,000 direct job opportunities in the first phase of the project. All production will be directed towards export, thus increasing Egypt’s foreign currency revenues.
The company also prioritizes corporate social responsibility, having previously invested heavily in the surrounding environment in sectors such as education, infrastructure, and agricultural production.
Mr. Zeng Yuy, Vice President of (Asia-Potas), confirmed the growing interest of many Chinese institutions in establishing investment partnerships with the Egyptian side and injecting high-value-added investments in an attractive investment environment like the Egyptian market. He noted that the company plans to partner with projects for the production of green ammonia scheduled to be operational in Egypt in the coming years to supply energy for the company’s industrial complex, thereby achieving the company’s strategy for producing environmentally friendly fertilizers.