Minister of Petroleum and Mineral Resources Karim Badawi met with the Vice Chairman of Indorama Corporation Amit Lohia to discussed the latest developments in the implementation of the project to establish a high-quality phosphate fertilizer plant in Ain Sokhna, in partnership with Egypt Phosphate Company, with investments ranging between $400 and $500 million.

During their meeting, Badawi highlighted the resources and the promising potentials in Egypt in the fields of mining and petrochemicals. He expressed the government’s full readiness to support the important investments in these vital sectors to achieve the utmost benefit from them.

He added that the sector is currently working on transforming Egypt into an import hub for high-quality products, emphasizing the importance of accelerating economic impact projects and adhering to specified timetables. This can be achieved by leveraging the expertise and advanced technologies provided by international companies, as well as the capabilities and skills of the Egyptian petroleum sector.

For his part, Lohia pointed to the projects of the company in Egypt including two plants to produce polyethylene resins and packaging materials with costs of $600 million.