On 24th December 2019, Eng. Tarek El Molla, Minister of Petroleum and Mineral Resources, Governor of the New Valley, and the Chinese Ambassador to Cairo, Liao Liqiang, witnessed signing of a contract for establishing a phosphoric acid production complex in Abu Tartur Plateau, at the New Valley Governorate, with an investment cost of about $ 842 million, with Misr Phosphate Co. , and the Chinese consortium, China State Construction Engineering Corporation (CSCEC), alongside Wengfu Group.
Total investment cost of the project is $1 billion, with production capacity of about 1 million tons annually for producing phosphoric acid, the main raw material of phosphate fertilizers industry. It will be established within the area of Abu Tartour mine, on an area of about 560 thousand m2, with a storage capacity of 3 million m2, and to be affiliated to El Wady for Phosphate Industries and Fertilizers (WAPHCO), which will undertake developing, establishing, managing and operating the complex.
In addition, a long-term contract for selling phosphoric acid of 500 thousand tons per year was signed, which represent half of the expected amount of the project, with the Chinese Wengfu Group, one of the Chinese consortium, as well as one of the leading phosphate producers in the world.
After the signing, El Molla affirmed that the project aims at achieving the maximum benefit from phosphate in Abu Tartour, which comes within the implementation of President Sisi's vision of the importance of attracting more investments in the Mining Sector, raising its contribution to the GDP, within the framework of the Ministry of Petroleum's strategy for achieving optimal economic exploitation of Egypt's Mineral Resources.
Minister of Petroleum during Signing a Contract for Establishing a Phosphoric Acid Production Complex in Abu Tartur2
Minister of Petroleum, during Signing a Contract for Establishing a Phosphoric Acid ProductionComplex in Abu Tartur3
El Molla, Chairman of Misr Phosphate Company, the Chinese Delegation, after Signing the Contract 1
El Molla, Chairman of Misr Phosphate Company, the Chinese Delegation after Signing the Contract 2
