Arab Finance: Minister of Petroleum and Mineral Resources Karim Badawi met with Mostafa El Gabaly, CEO of Polyserve Group for Fertilizers and Chemicals, to review the company’s plan for an integrated project to extract and exploit phosphate, as per a statement.
The project aims to increase the phosphate's added value through the production of phosphate fertilizers and phosphoric acid.
The two sides have agreed on certain steps to accelerate coordination between the petroleum ministry and Ployserve Group in implementing the project.
The minister stressed the ministry’s commitment to supporting private sector investments in the production of phosphate.
This comes as a priority under the third pillar of the ministry’s strategy to develop the mining sector and boost its economic returns.
