Minister of Petroleum and Mineral Resources, Tarek El Molla, announced the commencement of the implementation of the silicon production complex project in the new city of El Alamein, which is one of the most important national and strategic projects for the petroleum and mineral wealth sector within the framework of his vision to achieve optimal economic utilization of natural and mineral resources, the ministry said in a statement.
El Molla explained that the project is a model for partnership between the state and the private sector in establishing new industries to exploit mineral wealth with national investments, as an alternative to exporting this wealth in its raw form, which enhances the added value and return of this wealth to the Egyptian economy.
This came during the convening of the founding assembly of the Alamein Company for Silicon Products at the headquarters of the Ministry of Petroleum and Mineral Resources, in the presence of representatives of the shareholders in the new company, which was established within the framework of the steps to establish the new project.
The assembly began with a review by Mohamed El Bagoury, Undersecretary of the founders and Director General of Legal Affairs at the Ministry of Petroleum and Mineral Resources, of the steps and procedures taken to establish the new company as an Egyptian joint stock company.
The agenda was also reviewed and the shareholders approved the items it contained. The members of the Board of Directors were appointed and Amjad Kamel was chosen as the company’s president.
The assembly witnessed Amjad Kamel, head of the El Alamein Company for Silicon Products, reviewing the most important features of the project to be established on an area of 200 acres in the land of the Egyptian Petrochemical Holding Company in the new city of El Alamein, and the current executive position of the project, which aims to provide a locally made product of silicone and its derivatives instead of importing it.
Kamel explained that the project includes 4 different phases. A detailed feasibility study for the first phase has been completed, which aims to produce metallic silicon with a production capacity of 45,000 tons annually and an investment cost estimated at about $172 million, depending on the ultra-pure Egyptian quartz ore instead of exporting it as a raw material abroad.