India’s Ostwal could set up a fertilizers plant: India-based fertilizers manufacturer Ostwal Group of Industries is looking into setting up a USD 300 mn fertilizers factory in Egypt, according to a statement.

What we know: The factory aims to produce over 700k tons of fertilizers a year and plans to export to markets in the Middle East, Africa, and Europe, as well as the Indian market.

Why Egypt? Ostwal is looking to leverage Egypt's strategic location, availability of raw materials, qualified labor force, and energy resources, noted Investment and Foreign Trade Minister Hassan El Khatib during a meeting with a delegation from the company led by Managing Director Praveen Ostwal, who expressed the company’s interest in expanding here.

About Ostwal: The Indian group is one of the largest producers and manufacturers of fertilizers in India. It currently has operations in 10 countries, with 150 retail branches and 17k distributors.

ICYMI: We just got word that Singapore-based Indorama is building a USD 400-500 mn phosphate fertilizers plant in Ain Sokhna, set to begin implementation in 2025.

NEW FUTURE PHARMA FACTORY-

Future Pharma has an EGP 2.5 bn factory in the pipeline: Local pharma player Future Pharma Industries is planning to inaugurate a EGP 2.5 bn factory in Badr City next March, Chairman and Managing Director Gamal El Leithy told Al Borsa. The factory will produce ampoules, eye drops, and pre-filled syringes, with most of the output set to be allocated for export.

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