More investment into the local fertilizer sector could be on the way:The General Authority for the Economic Zone of the Golden Triangle has received three offers from local and international investors to establish fertilizer complexes in the so-called Golden Triangle in Red Sea governorate, authority Chairman Adel Saeed told Asharq Business on the sidelines of the Egypt Mining Forum. The three facilities would require a combined USD 1.6 bn of investment, he said.

The Golden Triangle: The Golden Triangle refers to an area of land stretching from the Red Sea port towns of Safaga and Quseir to Qena on the Nile. The area is known for being rich in phosphates, minerals that can be used to manufacture fertilizer.

#1- A consortium of Australian companies including consultancy firm Lionsbridge and electrical contractor Westech wants to invest USD 875 mn to set up a phosphoric acid production plant. Asharq first reported on this proposed project in May, citing an anonymous government official.

#2- The EGX-listed Egyptian Financial and Industrial Company has requested to build a USD 600 mn fertilizer factory on a 100-feddan land plot. The government is in the process of forming committees to appraise the land and allocate it for industrial activity .

#3- Egyptian businessman Mahmoud Moharram wants to establish a phosphate fertilizer and phosphoric acid factory with initial investments of around USD 150 mn.

Egypt is a major fertilizer exporter: Fertilizer is one of Egypt’s largest exports and last year brought in more tha n USD 2.3 bn , making it the ninth largest export of fertilizer in the world, according to UN data . Most of the production of the proposed factories will be directed to export, a plan that’s especially viable considering the proximity of the factories to Red Sea ports at Safaga and Ain Sokhna.

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