Arab Finance: Puredive Chemicals Company signed an agreement with a banking consortium to establish Egypt’s first factory for producing chlorine tablets and granules, according to a statement.
The project, the first of its kind in Africa and the Middle East, will be set up at Misr Chemical Industries Company, a subsidiary of the Chemical Industries Holding Company.
With an investment of nearly $39 million, the facility aims to produce 10,000 tons of chlorine tablets and granules (TCCA) and 10,000 tons of cyanuric acid. These are used in swimming pool disinfection, water treatment, and sterilization.
The project also contributes to producing 18,000 tons of anhydrous ammonium sulfate, a high-quality agricultural fertilizer, which will support national agricultural production.
Mohamed Shimه, Minister of Public Business Sector, witnessed the signing of a financing agreement with the Commercial International Bank (CIB) and the National Bank of Egypt (NBE), which are providing financing of $21.8 million and EGP 255 million, representing 70.6% of the project's investment cost.
This aligns with the state's strategy to bolster national industries, increase the added value of local raw materials, maximize exports, and expand partnerships with the private sector.
It will also enhance the country’s global competitiveness and boost foreign currency reserves, as the majority of its production is slated for export.
PureDive has obtained approval from the Egyptian Environmental Affairs Agency to establish the project, which is being implemented under the supervision of the Chinese company Kapsom, as its general contractor.
Meanwhile, ECG is providing engineering consultancy and construction supervision to ensure the highest levels of quality and efficiency.
The project is expected to reduce imports, save foreign currency, and maximize the added value of local raw materials such as chlorine and caustic soda from Misr Chemical Industries Company and urea from Abu Qir Fertilizers Company.
In this regard, it will reinforce the national economy and foster the competitiveness of Egyptian industry in regional and international markets.