India's Ostwal Group plans to invest $300M in fertilizer plant in Egypt

CAIRO – 31 July 2024: Minister of Investment and Foreign Trade Hassan El-Khatib met Tuesday with a delegation from India's Ostwal Group of Industries to discuss the latter's plan to invest $300 million in a fertilizer plant whose annual capacity will be over 700,000 tons.  

The group aims to export its production to the Middle East, Africa, and Europe in addition to India. The enterprise would leverage Egypt's strategic advantages, such as abundant raw materials, skilled labor, energy resources, and prime location as a global production and export hub.

Managing Director of Ostwal Group of Industries Praveen Ostwal affirmed the Group's strong interest in operating and expanding in Egypt, recognizing the Egyptian market as a key market in the Middle East and Africa.

“Our Group is a leading manufacturer of fertilizers and chemicals in India, operating in 10 countries with 150 retail branches and 17,000 distributors," Ostwal stated.