Egypt announces about establishing a firm to produce a million ton of phosphate annually at a cost of $ 250 million

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Egypt announces about establishing a firm to produce a million ton of phosphate annually at a cost of $ 250 million

[11/06/2024 05:42]

CAIRO-SABA
The Arab Republic of Egypt announced on Tuesday the establishment of a corporation to maximize the added value of low-concentration phosphate ores and produce one million tons per year of crude at a total cost of 250 million US dollars.

The Egyptian Ministry of Petroleum and Mineral Resources said in a statement, "This came during the signing of the shareholders' agreement to establish the company between the Egyptian Mineral Resources Authority and the two companies (East Gas) and (IMEX International) in the presence of the Minister of Petroleum and Mineral Resources, Eng. Tarek El Molla.