Egypt, China Sign Big Chemical Factory Deal

Egypt has signed a deal with China State Construction Engineering Corporation (CSCEC) and East China Engineering Science and Technology Co. for a $658 million industrial complex that will focus on the production of phosphoric acid. The plant will use locally extracted phosphate ore.

“This is a historic move that will enable us to shift from exporting raw materials to launching an integrated industrial value chain,” Petroleum and Mineral Resources Minister Karim Badawy said.