Petroleum Minister and New Valley Governor Lay Foundation Stone for $658M Phosphoric Acid Complex in Abu Tartour

Egypt lays foundation stone for first phosphoric acid complex in Abu Tartour with $658M investment to produce 250,000 tons annually.

Egypt starts $658M phosphoric acid complex in Abu Tartour to add value to phosphate and create 3,000 jobs.

*Eng. Karim Badawi*, Minister of Petroleum and Mineral Resources, and *Dr. Hanan Magdy*, Governor of New Valley, laid the foundation stone for the first *phosphoric acid industrial complex* in *Abu Tartour* with *$658 million* in investments.

The project targets producing *250,000 tons annually* of commercial high-concentration phosphoric acid for fertilizers. It will be executed by Chinese firms *CSCEC and ECEC* within *30 months* and its output will be exported via *Safaga Port*. The complex is expected to create *over 3,000 direct and indirect jobs*.

Badawi said transforming the *Egyptian Mineral Resources Authority* into an economic authority is a major shift to attract investments and establish mining industries. He also reviewed private sector plans by *Moving Vert* and *Genesus Mining* for integrated phosphate complexes.

*Phosphate Misr* operates the Abu Tartour mines with *7 million tons/year* capacity and holds a *25% stake* in the new complex.