Cairo: Egypt and China have entered into a contract to establish a substantial chemical and phosphate complex in the Sokhna region, with the project's estimated value reaching USD 1 billion. The agreement was formalized during a signing ceremony attended by Egyptian Prime Minister Mostafa Madbouli, where Mohammad Alkammah, CEO of Alsewedy Company for Industrial Development, and Huang Qiu Han of the Chinese company CJN, signed the deal.
According to Kuwait News Agency, the Egyptian Cabinet released a press statement elaborating on the project's scale and scope. The complex is planned to span a 905,000 square-meter area within Sokhna 360, an industrial town managed and developed by Alsewedy Company. The project is structured to proceed in three phases, with a total investment of USD 1 billion.
The initiative is anticipated to create approximately 10,000 jobs and aims to export the majority of its production to key global markets, including South Asia, the Middle East, Africa, and South America. The first phase of the project is scheduled to commence in 2026, with commercial operations beginning by 2028. The second phase is set to start in 2029, becoming operational by 2031, followed by the third phase, which will start in 2032 and become operational by 2034.