Tuesday 23 August 2022
Last update on Tuesday, August 23, 2022 At 7:00 AM
As part of the quadripartite industrial partnership (Bahrain, United Arab Emirates, Egypt, Jordan) signed at the end of May 2022, a first project led by the private sector has been approved by the member countries.
The Emirati group CFC is going to invest $400 million in order to build an industrial complex in the Al Haw industrial zone in the governorate of Qena.
Construction is expected to begin in the first half of 2023 with commissioning scheduled for 2025.
The project will be carried out by the German company ThyssenKrupp with the support of the local fertilizer company Evergrow as technical advisor and under the supervision of CFC Fert, the Egyptian subsidiary of CFC group. This complex, self-financed by the group, will generate 1,500 jobs and will have an annual production capacity of 200 kt of fertilizer, 400 kt of animal feed and 700 kt of phosphoric acid, the raw materials for which will be supplied by Egypt (one million tonnes of phosphate) and Jordan (200 kt of potash).
A fifth of the production will be destined for Egypt while the rest will be exported with priority to member countries of the agreement.
Source : Embassy of France in Lebanon
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