Cairo – Mubasher: Egyptian Prime Minister Sherif Ismail discussed the construction of a complex for phosphoric acid production and manufacturing with Al-Wadi for Phosphate Industries Company at a total cost of $750 million.
The project aims at producing a million tonnes of phosphoric acid per annum for the domestic market in accordance with demand and export, according to the Egyptian Cabinet's statement.
Major national firms are holding stakes in Al Wadi company, including Phosphate Misr Co, Alahli Capital, Engineering Co for The Petroleum and Process Industries (Enppi), East Gas Co, Abu Qir Fertilizers, National Investment Bank, and Egyptian mineral resources agency.
During the meeting, the PM has considered the establishment of a company to regulate Egypt's phosphate export market.
