Cairo – Mubasher: Evergrow for Speciality Fertilizers is looking to set up a new project with EGP 9.5 billion in investments, Egypt’s minister of trade and industry Tarek Kabil announced.
The project, which will be carried out in coordination with two global firms in the fertilisers field, will provide 1,000 direct and 4,000 indirect job opportunities, Kabil said in a statement on Wednesday.
Set to begin in 2020, production is forecasted to reach around 1.1 million tonnes per year, the minister revealed.
He added that after the investment, Evergrow’s production will include 600,000 tonnes and 500,000 tonnes of compound fertilisers and dicalcium phosphate, respectively, in addition to 700,000 tonnes of sulfuric acid, respectively.
Mohamed El-Kheshen, CEO of Evergrow, said that the new project aims to direct 25% of fertilisers output to the local market and export 75% of the production to global markets, particularly East African countries.
Planning to launch a new line of fertilisers, Evergrow sees the low-concentration phosphate as suitable for its planned products.
