Egypt’s General Authority for the Golden Triangle Economic Zone (GTEZ) has received three offers worth $1.6 billion from Egyptian and international investors to build a phosphate fertilizer complex in the economic zone located on the Red Sea at Safaga, Zawya reported.
The first offer came from the Egyptian Financial and Industrial Company (EFIC), and its investment cost is worth about $600 million, Zawya reported, citing GETZ’s Adel Said, speaking at the Egypt Mining Forum 2023 in Cairo on July 18-19.
It is unclear if EFIC’s submission is for the entire complex, which is set to be implemented in three phases, according to the report. Details of the proposed production capacities have not been reported, but it is presumed the phosphate rock feedstock will come from the adjacent Abu Tartour mining operations.
The second offer was submitted by Egyptian businessman Mahmoud Muharram to establish a phosphate fertilizer plant and a phosphoric acid unit, with initial investments estimated at $150 million.
According to the report, a Australian consortium comprised of Lionbridge, a subsidiary of Wessen Group Ltd., and West Tech has submitted the third offer for investing $875 million in building a phosphoric acid plant.