Australian consortium to launch an $875M phosphoric acid production plant

The consortium will establish a company named Osiris to implement the project which will be located in the city on the Red Sea coast, with a total annual production capacity of 692K tons.

The plant will be executed in two phases; the first phase will cost $312 million in investments to produce 346,000 tons of phosphoric acid, while the second phase will be implemented with investments of up to $563 million.

Earlier this week, The United Kingdom is providing a EUR 80 million guarantee to the African Development Bank (AfDB) to support the 3rd phase of the Al-Gabal Al-Asfar Wastewater Treatment Plant project.

The AfDB announced last week that it raised $2.2 billion to improve Egypt’s water security under the Egypt’s Nexus for Water, Food and Energy (NWFE) program that originally had a target of $1.4 billion.