President Abdel Fattah El Sisi witnessed the inauguration of the quartz production complex in Ain Al-Sokhna in attendance of Prime Minister Mostafa Madbouly alongside a number of ministers and senior officials.
On this occasion, the president said that the recently-inaugurated projects are open for prospective Egyptian and foreign investors as well as stock market investments.
He highlighted the necessity of finding ways of manufacturing quartz by local components.
El Sisi added that the estimated cost of the three stages of the project is $700 million, noting that feasibility studies of the project outlined the costs it would save by cutting down the imports as well the expected revenues of importing the output.
The President opened, via video-conference, a quartz primary crushing plant in Marsa Alam , within the framework of opening a quartz production complex in Ain Al-Sokhna.
The Head of the plant, Hossam Mohamed Anwar, explained that the quartz crushing plant’s production capacity is estimated at 140,000 tons annually.
For his part, Head of the Egyptian Company for Mining, Management and Exploitation of Quarries, Abdel Salam Shafiq, highlighted the importance of the plant saying that the quartz production complex is a new great industrial addition to the state’s comprehensive development.
He explained that the project includes one mine and five factories in Marsa Alam. The mine has a reserve of 3.5 million tons noting that the production capacity of two factories within the project estimated at 140,000 tons annually.
Additionally, President of the Egyptian Mineral Resources Authority (EMRA) Yaser Ramadan said the inauguration of the quartz production complex is the best example for optimizing the use of mineral resources.
Ramadan showed the commitment of the Ministry of Petroleum and Mineral Resources (MoPMR) to maximize the added value of mineral resources, especially quartz, under El Sisi’s directives to carry out the Sustainable Development Strategy (SDS): Egypt Vision 2030.
From his side, El Sisi urged the government to remove all obstacles facing the Egyptian mineral resources authority (EMRA) as well other similar institutions.
Additionally, the President made an inspection tour of the quartz production complex, where he listened to all details about the complex and the production stages.