Egypt Aims To Develop Mining Industry Through Strategic Partnerships: Minister

(MENAFN- Daily News Egypt) Mohamed El-Shimy, Minister of Public Enterprises Sector, held a key meeting with representatives from Al Safi Group, American International Holdings Corporation (AMIH), and its Indian subsidiary, Wilson Company, to assess the ongoing progress of a major industrial project. The initiative seeks to boost the concentration of phosphate ore extracted by Nasr Mining Company, a subsidiary of the Holding Company for Metallurgical Industries, part of the Ministry's broader strategy to develop Egypt's mining sector.

The project will play a significant role in increasing the added value of the country's natural resources, aligning with the Ministry's goal to modernize and diversify industries within its affiliated companies.

Among the attendees were Manish Nagpal, CEO of AMIH, Venkataraman Sitaram, Vice President at Wilson Company, Amr Safi, Head of Business Development at Al Safi Group, Mohamed El Saadawy, Executive Managing Director of the Holding Company for Metallurgical Industries, Mohamed Hassouna, Ministerial Advisor, Saeed Arafa, Legal Advisor to the Ministry, Abu El Magd Miftah, Managing Director of Nasr Mining Company, and Hind Abu El Fotouh, Investment Advisor for the project.

The meeting focused on reviewing the project's current status, including the final steps needed to establish a joint venture between Nasr Mining, Al Safi Group, and Wilson Company. Discussions highlighted the technical expertise Wilson will provide to enhance phosphate ore concentration, as well as the production of high-value phosphate fertilizers and related products, such as sulphuric and phosphoric acid.

The proposed site and operational requirements for the project were also reviewed, with a focus on meeting growing global demand for these products. This development will position Egypt to increase its exports, tapping into high-demand international markets.

Minister El-Shimy emphasized that the project aligns with the Ministry's broader strategy to strengthen national industries, transfer and localize advanced technologies, and add value to local resources. He highlighted the economic significance of this collaboration, noting its potential to open new export opportunities and generate much-needed foreign exchange, ultimately contributing to the country's economic growth.

The Minister also reaffirmed the Ministry's commitment to fostering stronger partnerships with both international and local companies. This initiative supports Egypt's Vision 2030 goals for sustainable development, aiming for industrial integration and the realization of specific project milestones on time.

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