Cairo: Prime Minister Mostafa Madbouly witnessed the signing ceremony of a contract to establish the Indorama Egypt Fertilizer project, which involves building a new phosphate fertilizer plant within the Suez Canal Economic Zone (SCZONE), specifically in the Sokhna industrial area.
According to State Information Service Egypt, the ceremony was attended by Minister of Petroleum and Mineral Resources Karim Badawi and Chairman of the General Authority for the Suez Canal Economic Zone Waleid Gamal el-Din. The contract was signed by Vice Chairman of the General Authority for the Suez Canal Economic Zone for Investment and Promotion Mostafa Sheikhon and Indorama CEO Mukul Agrawal.
The project will be established on an area of 522,000 square meters, with total investments estimated at approximately $525 million for the first phase. It is expected to create up to 2,500 direct jobs during the operation phase, in addition to around 500 jobs during the construction phase.
The Indorama Egypt Fertilizer project aims to establish an integrated industrial complex for fertilizers and basic chemicals, with a production capacity of up to 600,000 tons annually in the first phase. This includes the production of phosphate fertilizers and related products such as phosphate rock, ammonia, sulfur, potash, and urea, as well as specialized chemicals like zinc sulfate, boric acid/sodium borate, and sodium molybdate.
The project is set to support agricultural and industrial supply chains, with around 80% of production directed toward export, thereby enhancing Egypt's export capabilities. Prime Minister Madbouly emphasized that the project represents a significant addition to Egypt's strategic industries sector, particularly in fertilizers and industries related to mineral resources.
Waleid Gamal El Din stated that the project reflects the success of the General Authority for the Suez Canal Economic Zone in attracting specialized industrial investments with high capital and technological intensity. He highlighted the integration of production activities within the project, which contributes to deepening local manufacturing and strengthening value chains for chemical industries based on mineral resources.
He added that the Suez Canal Economic Zone's attractive investment environment, advanced infrastructure, strategic location, and investment incentives help attract major global companies. He reaffirmed the authority's efforts to draw more high-quality investments that support its transformation into a regional and global industrial hub, in line with its strategy to enhance competitiveness, localize strategic industries, and boost exports to support the national economy.