Arab Finance: Indorama and Misr Phosphate have signed an agreement to establish a new phosphate fertilizer plant in the Suez Canal Economic Zone (SCZONE), as per a statement.
The project will be developed in the Ain Sokhna Industrial Area as part of a joint venture between Indorama, through its Netherlands-based subsidiary Indorama Holdings B.V., and Misr Phosphate.
The partnership aims to establish an integrated industrial complex for fertilizers and basic chemicals within the SCZone.
The first phase of the complex is expected to have an annual production capacity of 600,000 tons, backed by an investment of $525 million.
The facility will focus on producing phosphate fertilizers and related high-value products, leveraging the zone’s strategic location and infrastructure.
