Alamein for Silicon Products Company (ASP) has signed a long-term joint financing agreement worth $140 million to launch the first phase of the Silicon Metal Production and Derivatives Complex. Established under the Egyptian Petrochemicals Holding Company (ECHEM), the project is a centerpiece of Egypt’s strategy to localize high-value industries.
The financing institutions include Qatar National Bank (QNB), Commercial International Bank (CIB), and Banque du Caire, with the National Bank of Egypt (NBE) serving as the project’s financial advisor, according to a statement by the Ministry of Petroleum and Mineral Resources (MoPMR).
The industrial complex, which was recently granted the Golden License by the Egyptian Cabinet to expedite construction and operations, represents a total initial investment of $200 million for its first phase.
Designed to process Egypt’s high-purity quartz (HPQ) ore into value-added products, the project aims to produce 45,000 tons per year (t/y) of metallic silicon in Phase 1. Subsequent phases include the production of siloxane intermediates (60,000–100,000 t/y), a 25,000 t/y polysilicon plant for solar cells, and downstream facilities for silicone rubber and oil. The project is expected to increase Egyptian silicon export volumes by 50% following the completion of the first phase.
Minister of Petroleum and Mineral Resources Karim Badawi, who attended the signing ceremony, stated that the project is vital for reducing the national import bill and maximizing the economic returns of Egypt’s mineral resources.
Badawi emphasized that the ministry intends to further prioritize financing for petrochemical and value-added projects throughout 2026 to ensure the rapid execution of the national industrial roadmap. By transforming raw quartz into intermediate and final products, the complex will support the domestic electronics and renewable energy sectors.
The four-phase development is slated for completion by June 2027. By transitioning from the export of raw HPQ ore to the manufacturing of polysilicon and silicon derivatives, the New Alamein facility aligns with the state’s broader energy transition goals.
