Abu Tartour for Phosphoric Acid Production Company was founded after the approval of its establishment was issued by the prime minster’s decision No. 16 of 2020 to become the first company to operate with the free zone system in El-Wadi El-Gedid Governorate.
Tarek El Molla, Minister of Petroleum and Mineral Resources, who attended the founding assembly, stated that the new company will handle all operations of the phosphoric acid manufacturing complex with investments exceeding $1 billion and a production capacity of 1 million tons per year (mmt/y) with a concentration of 54% of phosphoric acid. This aligns with the ministry’s strategy to develop Egypt’s natural resources and maximize its added value to benefit the national economy.
The minister remarked that the assembly aims to encourage investments in remote governorates especially the ones rich with natural resources.
He highlighted that operating companies under the investment law and free zones are a cornerstone to other similar future projects. For his part, Mohamed Abdel Azim, Head of PhosPhate Misr, stated that the main objective of establishing Abu Tartour Company is to operate and develop a plant for producing phosphoric acid and expand trade inside and outside of the country.
Abu Tartour for Phosphoric Acid is an Egyptian company owned by several shareholders from PhosPhate Misr Company, Al Ahly Capital Holding (ACH), National Investment Bank, the Egyptian Mineral Resources Authority (EMRA), Petrojet, Enppi, East Gas Company, Abu Qir Fertilizers, El Wady for Phosphate Industries and Fertilizers (WAPHCO), and the Chemical Industries Holding Company.