Phosphate acid complex in Abu Tartour costs $1 bln: Min.

CAIRO - 24 December 2019: Petroleum Minister Tarek el Molla said on Tuesday that the phosphoric acid production complex in Abu Tartour, New Valley, aims at attracting more investments in the mining field upon directives of President Abdel Fattah El Sisi.

The minister made the remarks during the signing of a contract between Misr Phosphate Company and a Chinese consortium to establish the complex in the presence of New Valley Governor Mohamed Zamlout and the Chinese ambassador in Cairo.

The $1-billion project is expected to produce a total of one million tons of phosphoric acid a year, the minister said.

He added that the project will be established on an area of 560,000 square meters and will have a storage capacity of 3 million square meters.