Arab Finance: Prime Minister Mostafa Madbouly oversaw the signing of a contract for the Polyserve for Fertilizers and Chemicals Company's project in Ain Sokhna, with investments estimated at $215 million, as the government continues to prioritize high-value-added industrial investments, as per a statement.
The project will be developed over 650,000 square meters, with a total production capacity of 3.5 million tons annually. It will be financed 40% through self-funding and is expected to create around 500 direct jobs.
Polyserve operates across mining, fertilizer production, and a range of chemical industries, including basic chemicals, nitrogen compounds, and the production of sulfuric and phosphoric acids, as well as specialized and compound fertilizers.
Madbouly said the localization of such industries would have a direct impact on the national economy by reducing imports and boosting exports.
He added that the Suez Canal Economic Zone (SCZONE) continues to offer an attractive investment environment, supporting the government’s strategy to expand private sector participation in high-value-added industries, increase local manufacturing content, and enhance the competitiveness of Egyptian products in regional markets.
