Egypt signs deals to build large-scale phosphate fertilizer plants

Egypt's Minister of Petroleum and Mineral Resources, Engineer Karim Badawi, witnessed the signing of an agreement between the Ministry's Mining Authority, the state mining company Wadico and Swadi Capital Group to establish a joint venture that will develop, construct, manage and operate an integrated phosphate fertilizer plant at Ain Sokhna. The project aims to transform Egyptian phosphate ore into export‑ready fertilizers, enhance foreign‑exchange earnings, strengthen food security and generate new jobs.

In a separate ceremony, the Ministry signed a memorandum of understanding with Genesis Mining Egypt to launch a comprehensive mining‑to‑fertilizer project in the New Valley region. Genesis plans to invest up to US$930 million to develop a 20 million‑tonne‑per‑year phosphate mining operation, build processing facilities and produce up to 500 000 tonnes per year of phosphoric acid and fertilizers. Both initiatives reflect Egypt's strategy to shift from raw‑material export to higher‑value processing in the mining sector.