Egypt signs $140M financing deal for metallic silicon production complex in New Alamein
Updated 12/31/2025 1:35:00 PM
Arab Finance: Egypt has signed a $140 million long-term syndicated financing agreement for the first phase of a metallic silicon and derivatives production complex planned for the industrial zone in New Alamein, according to a statement from the Ministry of Petroleum and Mineral Resources.
The agreement was signed by Alamein for Silicon Product Company with a banking consortium comprising Qatar National Bank Egypt (QNB), Commercial International Bank (CIB), and Banque du Caire, while the National Bank of Egypt (NBE) is acting as financial advisor to the project.
The complex is one of the projects of the Egyptian Petrochemicals Holding Company (ECHEM).
The project aims to establish an integrated industrial complex for the production of metallurgical-grade silicon and its derivatives, leveraging Egypt’s high-purity quartz resources rather than exporting them as raw materials.
It is expected to support downstream mining industries and create a strategic production base linked to several advanced industrial sectors.
The project has obtained the Egyptian cabinet’s Golden License, which provides unified approvals for construction, operation, and licensing to accelerate execution.
The complex will be developed over four production phases, starting with a first phase targeting annual output of 45,000 tons of metallurgical-grade silicon, with investments estimated at $200 million.
This phase is expected to create 300 direct jobs and around 3,000 indirect jobs across supply chains, logistics, and supporting industries.
Later phases will focus on silicon derivatives, including a polysilicon plant with an annual capacity of 25,000 tons for use in electronics and solar cell manufacturing.
Additional phases will cover intermediate silicons and complementary industries, as well as finished products such as silicone rubber and silicone oil, with the aim of positioning Egypt as a regional hub for silicon industries in the Middle East and Africa.
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