China to Build Massive Phosphate Mine in Egypt

Phosphate Investing

A group of major Chinese firms is planning to build a $1 billion phosphate plant in Egypt, Reuters reported. As quoted in the publication: The Chinese delegation seeks to start key steps to finance and build the first mining project to produce phosphoric acid in Egypt, with costs estimated at around $1 billion. Abu-Tartour phosphate …

A group of major Chinese firms is planning to build a $1 billion phosphate plant in Egypt, Reuters reported.
As quoted in the publication:

The Chinese delegation seeks to start key steps to finance and build the first mining project to produce phosphoric acid in Egypt, with costs estimated at around $1 billion.
Abu-Tartour phosphate project is one f the largest phosphate mines in the Middle East, located in Abu Tartour in New Valley governorate, 650km (404 miles) south of Cairo.
Khaled El-Ghazali – Chairman of Phosphate Misr, which operates the phosphate mine in Abu-Tartour plateau, said his company had signed a memorandum of understanding with the Chinese firms.

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