Petrojet, ENPPI approve participation in New Valley phosphoric acid plant
Updated 6/25/2025 11:21:00 AM
Arab Finance: The General Assemblies of Petrojet and Engineering for the Petroleum and Process Industries (ENPPI) have approved participation in financing and implementing a phosphoric acid production plant on the Abu Tartur Plateau in Egypt’s New Valley, as per a statement.
The two assemblies also approved the signing of the shareholders' framework agreement and all related contracts to begin project execution.
The plant’s first phase will have an annual production capacity of 250,000 tons, with Petrojet and ENPPI among the participating shareholders.
Minister of Petroleum and Mineral Resources Karim Badawi highlighted the strategic value of the project.
Calling it a national initiative, the minister said that it aims to maximize the added value of Egypt’s phosphate resources by converting raw phosphate into a finished product.
He emphasized that the project supports Egypt’s goal of becoming a regional hub for mining industries.
This project is also aligned with state priorities to raise the mining sector’s contribution to gross national product (GNP) from less than 1% to between 5% and 6% in the near term.
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