(MENAFN- Daily News Egypt) Egypt's Prime Minister Mostafa Madbouly met Wednesday with officials to discuss the progress of a phosphoric acid production project in the Abu Tartur plateau in the New Valley governorate.
The meeting was attended by Tarek El-Molla, Minister of petroleum and Mineral Resources, Mahmoud Esmat, Minister of Public Enterprises Sector, Mohamed El Zamalout, governor of the New Valley, Mohamed Abdel Azim, Chairperson of PhosPhate Misr company, and Medhat Youssef, CEO of the company.
Madbouly began the meeting by emphasizing the great importance of the phosphoric acid production project in the New Valley, due to its significant contributions to achieving sustainable development for the governorate, meeting the local market's need for this product, reducing its import bill, and creating thousands of job opportunities.
El-Molla confirmed that the Abu Tartur project for producing phosphoric acid is one of the national projects that the ministry is giving great attention to, due to its positive impact on maximizing the added value of phosphate ore. It is also a continuation of the state's efforts during the past period to encourage investments in underdeveloped governorates such as the New Valley.
Abdel Azim stated that the commercial phosphoric acid production project in Abu Tartur in the New Valley is the largest industrial complex in Egypt for producing phosphoric acid. The production depends on using Abu Tartur phosphate ore and maximizing its added value instead of exporting it as a raw material. The project also contributes to the comprehensive development of the New Valley, providing more than 3,000 direct and indirect job opportunities.
Nader Saad, the cabinet spokesperson, stated that the meeting discussed a presentation on the project site in the Abu Tartur plateau, the project's production units, and some economic indicators. The meeting also addressed the financing status of the project, the proposed timeline for its implementation, and reviewing the communication status with strategic investors to contribute to this vital project. Madbouly stressed the need to expedite these steps to provide the required financing for the project.
Saad also stated that during the meeting, the proposed timeline for the project and the establishment of the factory dedicated to producing phosphoric acid were reviewed through the project company, which is“Abu Tartur for Phosphoric Acid (a private free zone company).”
Saad added that during the meeting, it was also mentioned that many intensive meetings and negotiations were held with a number of investors to reach a fruitful agreement to enter the project as strategic investors.
El-Zamalout gave an overview of the residential city of the PhosPhate Misr company, which covers an area of about 292 acres, located west of Al-Kharga city, about 50 km away from the Abu Tartur mountain, and connected to the city by the Al-Kharga-Al-Dakhla road.
He pointed out that the city consists of three neighbourhoods with a total of 1,396 housing units. He also talked about the available services in the city, including a drinking water purification station, water tanks, a dual sewage treatment station, as well as a sewage network for residential units and electricity networks.
El-Zamalout also talked about the internal road networks of the residential city, with a total length of 39 km, and discussed ways to maximize the benefit of this city by establishing agricultural and industrial clusters and providing job opportunities for young people.