Indorama aims to establish $700M factories in Egypt

 Indorama Corporation, Asian chemical firm, wants to establish two factories of phosphate fertilizers and mineral silicon for manufacturing solar panels, with investments worth $700 million. Prime Minister Mostafa Madbouly reviewed their proposal during a meeting with Minister of Petroleum Tarek El-Molla and Minister of Planning Hala El-Said, and Minister of Trade and Industry Ahmed Samir alongside other senior officials.

The petroleum minister said there is a chance for partnership with Indorama, noting that the raw materials for the two factories are available.

During the meeting, Madbouly also called for the preparation of draft laws and decisions to implement the Egyptian president's recent decision on offering a package of incentives for targeted industries in order to be reviewed by the cabinet, then referred to the parliament.