Africa

Egyptian firms sign final contracts with Chinese consortium to build chemical plant

Several Egyptian companies signed on Sunday final contracts with a Chinese consortium comprising China State Engineering Corp and East China Engineering Science and Technology Company to build a phosphoric acid plant in Egypt's New Valley area.

The project, which will be Angola's second oil refinery, will help make Sub-Saharan Africa's No 2 crude producer less dependent on costly fuel imports amid government efforts to eliminate fuel subsidies that have triggered deadly protests.
The project, which will be Angola's second oil refinery, will help make Sub-Saharan Africa's No 2 crude producer less dependent on costly fuel imports amid government efforts to eliminate fuel subsidies that have triggered deadly protests. ( 123RF/IONUTANSICA / File photo )

Several Egyptian companies signed on Sunday final contracts with a Chinese consortium comprising China State Engineering Corp and East China Engineering Science and Technology Company to build a phosphoric acid plant in Egypt's New Valley area.

The plant, which has an investment value of $658m (R11.70bn), will have the capacity to produce 250,000 tons of concentrated phosphoric acid in the first phase of the project, Egypt's petroleum ministry said in a statement.

Egyptian participants in the project include leading fertiliser producer, Abu Qir Fertilizers, state-owned Misr Phosphate and others.

Reuters


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