Petroleum Minister discusses speeding up phosphate fertilizer plant with Elsewedy Capital Holding

Minister of Petroleum and Mineral Resources Karim Badawi discussed with Elsewedy Capital Holding Chairman Ahmed Elsewedy the latest developments and steps to accelerate the implementation of a phosphate fertilizer production plant in the Suez Canal Economic Zone.

According to a statement by the Ministry of Petroleum and Mineral Resources on Friday, August 14, 2026, the project is being executed in partnership between the Mineral Resources and Mining Industries Authority, WadiCo and Elsewedy Capital Investment Group, as part of the State’s strategy to maximize the added value of Egypt’s mineral resources.

Badawi said the project represents an important step toward developing the exploitation of Egyptian phosphate and maximizing its economic returns by expanding local manufacturing and converting mineral resources into higher-value intermediate and final products, thereby supporting national industry and enhancing Egypt’s production and export capabilities.

The minister praised Elsewedy Capital’s participation in the industrial project, stressing that strengthening partnerships with the private sector is a key pillar in implementing manufacturing projects and maximizing the use of natural resources, while supporting the State’s efforts to localize industry and increase added value in the Egyptian economy.

During the meeting, Badawi directed that work continue to accelerate the completion of the project’s implementation procedures and address any challenges or obstacles that may arise during the implementation stages, while enhancing coordination and integration among all relevant entities to ensure adherence to the targeted timelines and accelerate progress.

He stressed that the Ministry of Petroleum and Mineral Resources places maximizing the added value of mineral resources among its top priorities by expanding integrated industries based on Egyptian raw materials, thereby maximizing their economic returns and opening new avenues for investment, production and exports.

The project comes as part of the ministry’s efforts to shift the mining sector from the extraction and trading of raw materials toward establishing integrated downstream industries, thereby maximizing the returns from Egypt’s mineral resources and enhancing the competitiveness of Egyptian products in domestic and global markets.