US’ Lionsbridge eyes establishing $3bln phosphoric acid factory in Egypt

US-based Lionsbridge, a subsidiary of the construction services firm Wesson Group, is planning to set up a phosphoric acid production factory at Egypt’s Abu Tartour port in Safaga, with investments of up to $3 billion, as per a statement.

The project aims to meet the demand of the local market and export abroad.

The project will be implemented in several phases, with the first phase targeting a production capacity of 350,000 tons of phosphoric acid annually, with $395 million worth of investments.

The project’s production capacity is set to be doubled in the second phase, in addition to producing 500,000 tons of sulfuric acid annually.