Egypt’s Minister of Investment and Foreign Trade Mohamed Farid stated that his ministry is fully committed to supporting projects that introduce advanced technologies and contribute to strengthening local manufacturing and expanding export opportunities.
He also affirmed that all necessary facilitation will be provided to Draschem Specialty Chemicals to finalise its licensing procedures and ensure the project is launched according to the planned timeline.
Minister Farid met with a delegation from company to review the progress of establishing the first sodium cyanide and derivatives production plant in Egypt and the Middle East, and the second in Africa, with total investments estimated at approximately $200 million.
The project had previously received Cabinet approval in November 2024 to establish a special free zone covering an area of 157,000 square metres in the El Nahda area of Alexandria.
The zone, the ministry said in a statement, will be didicated for the manufacturing and production of specialty chemicals, including sodium cyanide and its derivatives.
During the meeting, the minister emphasised that the ministry places strong emphasis on localising precision and specialised industries that contribute to deepening local manufacturing and creating new export opportunities.
He added that the ministry will closely follow up on the completion of licensing and legal procedures to ensure the project proceeds according to the planned schedule.
The minister was briefed on the proactive measures undertaken by the company to ensure full environmental compliance, following its response to the recommendations of the Egyptian Environmental Affairs Agency.
These measures included conducting quantitative risk assessments using the global SAFETI and PHAST models and adhering to the International Cyanide Management Code standards, which are recognised by the United Nations and the World Bank, to ensure the highest levels of safe and responsible operations.
For their part, the company officials said that the project will facilitate the transfer of advanced technology to Egypt, strengthen the capabilities of local professionals in specialised chemical industries, and operate in full compliance with the highest international safety and environmental standards.
